Apple (AAPL) Stock Reclaims World’s Most Valuable Company Title From Nvidia
TLDR
- Apple stock rose 1.3% to $337.40, nearing a new all-time closing high of $333.74
- AAPL reclaimed the No. 1 spot as the world’s most valuable public company, overtaking Nvidia
- A close above $340.43 would push Apple’s market cap to $5 trillion for the first time
- Wall Street expects Q3 EPS of $1.89 (up 20.4%) and revenue of $109.03 billion (up 16%)
- HSBC upgraded AAPL to Buy with a $366 price target, calling it an “operational turning point”
Apple stock climbed 1.3% to $337.40 on Monday, putting it within striking distance of a new all-time closing high. The current record close stands at $333.74.
A close above $340.43 would push Apple’s market cap past $5 trillion — a milestone the company has never hit before.
The move comes just days before Apple reports fiscal Q3 results after the bell on Thursday, July 30. It will also be Tim Cook’s last earnings call as CEO.
AAPL reclaimed its spot as the world’s most valuable public company on Monday, overtaking Nvidia. NVDA fell nearly 5%, dropping its market value to around $4.77 trillion, while Apple pushed close to $5 trillion.
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