It seems like the tables have turned once more, as Apple has now reclaimed the spot as the world’s most valuable company, followed closely by Microsoft and Amazon.
As some of you may remember, just a month ago, Amazon was deemed the world’s most valuable company for the first time in 14 years after hitting a market cap of $796 billion as opposed to Microsoft’s $783 billion and Google’s $745 billion. Apple was way behind at $701 billion.
But that was then, and this is now. Now, the California-based tech giant is sitting on a market value of $821 billion, putting it ahead of Microsoft’s $813 billion and Amazon’s $805 billion.
Apple started out in 2019 quite roughly after coming clean to their investors about weak revenue forecasts for 2019. The first three months leading up to this caused Apple’s stock to plummet, but it quickly picked up after the tech company released its actual earnings report. Its stock then rose by 7% the day after the report, despite iPhone revenues still going down by 15%.
On the other hand, Amazon and Microsoft both failed to deliver based on analysts’ predictions. Microsoft fell by about 4% while Amazon also fell by roughly 5%.