Apple Once Again Becomes World’s Most Valuable Company as Stocks Rise

Apple has once again reclaimed the top spot as the world’s most valuable company after its share price jumped 8.54% this week, catapulting it to a market capitalization of $2.42 trillion.

Shares of Apple soared to their highest levels to date in March and early April, before falling steadily week-over-week as news reports of mounting supply chain pressures, falling global demand for smartphones and inflation in markets around the world.

In mid-May, Apple was knocked down as the world’s most valuable company by Saudi Aramco after its shares fell more than 5% in a single day. The stock bottomed out late last week at around $137 after opening the year at $182. However, this week its shares are up 11.77 points and 8.54% in just five days to put Apple back on track. to the top of the market capitalization ranking with a value of more than 2.42 billion. Saudi Aramco shares fell slightly on Friday but remain generally higher for the week. So far this year, Saudi Arabian Oil Company has seen its share price and value increase by more than 25%, by contrast, Apple’s share price has fallen by 17.78% in the same year. period.

Apple continues to face inflationary pressures and a growing threat from retail workers publicly attempting to form unions at every retail store in the United States. Despite this, some analysts still believe in the title. Wedbush’s Dan Ives remains optimistic about his fortunes, describing the year’s tech meltdown as a generational buying opportunity for some stocks, including Apple.

Famed “Big Short” investor Michael Burry had a $36 million bet against Apple’s fortune on March 31.

Apple will present the next set of software for its ecosystem at WWDC 2022 in June. It could also introduce new hardware, possibly in the form of a MacBook or iMac, before the usual summer break in announcements that will precede Apple’s next best iPhone, the iPhone 14, and a few other major products coming later this year.

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