The Apple Company reclaimed its top spot as the world’s biggest company by stock price on Wednesday, overtaking Microsoft. This revival was propelled by the iPhone’s continued success, particularly after unveiling AI features at its annual developer’s conference on Monday.
In January, Microsoft’s bold rollout of new generative AI products under its Copilot brand propelled it to the top spot, overshadowing Apple, which had been slower in formulating its AI strategy.
Apple’s market capitalization, at 1530 GMT, stood at $3.33 trillion, while Microsoft’s was slightly lower at $3.26 trillion. Both companies’ shares are traded on the Nasdaq exchange in New York.
Apple, the phone giant, has announced the launch of a new AI platform named Apple Intelligence. This platform will be gradually integrated into the forthcoming version of the iOS 18 operating system.
However, the technology will be restricted to Apple’s highest-end hardware, meaning interested customers will need to purchase premium-priced devices to access the AI features.
