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  • Writer's pictureRealFacts Editorial Team

Apple Surpasses Microsoft to Become World's Most Valuable Company

Apple and microsoft logos

On Wednesday, Apple's (AAPL) stock surged past the $220 mark during intraday trading, buoyed by the positive forecasts of two Wall Street analysts, Wamsi Mohan of BofA Securities and Daniel Ives of Wedbush Securities. They believe that Apple's iPhone business will undergo a substantial upgrade cycle driven by artificial intelligence capabilities. Mohan stated that AI functionality is poised to fuel a multiyear upgrade cycle for iPhones, while Ives emphasized that Apple's AI advancements will trigger a long-awaited super cycle for iPhone sales. Both analysts have bullish price targets for Apple stock, with Mohan reiterating a buy rating and a price target of 230, and Ives maintaining an outperform rating with a price target of 275. 

This positive outlook has propelled Apple's stock to a record high, surpassing Microsoft (MSFT) as the world's most valuable company. Patrick Seitz, Investors Business Daily author, reported, “Apple now has a market capitalization of $3.33 trillion vs. $3.26 trillion for Microsoft.” The unveiling of Apple's AI strategy, named Apple Intelligence, at the Worldwide Developers Conference also contributed to this surge, with executives highlighting the on-device AI capabilities for products like the iPhone. Investors should keep an eye on ongoing developments in Apple, as they could potentially fuel additional gains.


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