Apple inches closer to passing Microsoft in market value

Image copyright Reuters Image caption Apple shares have spent the past few months at record highs Apple has risen past $US1 trillion in value and now stands less than a few percentage points away…

Apple inches closer to passing Microsoft in market value

Image copyright Reuters Image caption Apple shares have spent the past few months at record highs

Apple has risen past $US1 trillion in value and now stands less than a few percentage points away from passing Microsoft in terms of total market value.

The US tech firm’s share price hit $US197.33 in late afternoon trading in New York, meaning it has a market value of $US1,017,540,016,344.35.

That is now worth more than Microsoft, which had a market value of $US1,017,573,130,399,885 in early afternoon trading.

If Apple hits $US208.34, it will overtake Microsoft.

If Apple passes $US208.34, it will overtake Microsoft ©Yandex Image courtesy of Digit-Group, which represents Apple and Microsoft on the Digit Index database.

Apple is only fractionally behind Amazon, which has a market value of $US1,087,203,741,035.83.

That puts the FTSE 100 firm above four other tech-related stocks, including Google parent company Alphabet, which has a market value of $US1,001,075,054,290.54.

Investors have pushed up the value of shares in Apple and its peers as the market has recovered from earlier this year, when the tech sector’s performance had been under pressure.

In early March the market appeared to have tipped into reverse, falling more than 6% from the end of January, but the losses were pared as worries about rising oil prices eased and the selling pressure eased around the Chinese stock market.

In February, Apple reported revenue above Wall Street expectations and its share price rose after it announced a massive $100bn share buyback program.

Reuters

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