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Apple extends rally with a record-breaking stock market value

By Thomson Reuters Jun 17, 2024 | 12:30 PM

(Reuters) – ** Shares of Apple Inc climbs 2.1% with the iPhone maker on track to close with a market cap of $3.33 trln, more than any company in history, with Microsoft and Nvidia both close behind

** AAPL now up ~10% since June 7, just before the co unveiled a long-awaited AI strategy, integrating “Apple Intelligence” tech across its suite of apps including Siri and bringing OpenAI’s chatbot ChatGPT to its devices

** AAPL’s stock has underperformed Wall Street’s other heavyweights in 2024, but the recent surge has elevated its market cap back above MSFT and NVDA

** The three cos remain in tight contention for the crown of the world’s most valuable co. MSFT on Mon was up 0.9%, giving it a value of $3.32 trln, while NVDA was up 0.1% with a market cap of $3.24 trln

** AAPL is up 13% in 2024, while MSFT has gained 19% and NVDA has soared 166%

(Reporting by Noel Randewich)