“Apple has reclaimed the title of most valuable public company in the world,” Lauren Feiner reports for CNBC.
“The company surpassed Microsoft and Amazon Wednesday with a market capitalization of $821.59 billion,” Feiner reports. “Microsoft ended the trading day with a market value of $813.48 billion and Amazon ended the day with a market value of $805.70 billion”
“Apple suffered a steep loss in market value in early January after warning investors to expect weak revenue for its first quarter 2019. In the three months leading up to the warning, investors already anticipated the revenue drop and Apple’s market cap bled $452 billion,” Feiner reports. “Apple’s warning tempered expectations so effectively that its actual earnings report was well-received. The stock soared nearly 7 percent the day after Apple’s report.”
Read more in the full article here.
MacDailyNews Take: As it should be.
We still have several billion to go to be fairly valued, but at least the wild knee-jerk overreaction has begun to be mitigated.