Today, Apple has officially taken back the number one spot as the most valuable company in the world. The tech giant surpassed NVIDIA in market value this Friday, right as the highly anticipated new smartphone finally landed in stores. The stock jumped over $351 a share, pushing the overall worth of the company past the $5.12 trillion mark. Wall Street clearly liked what it saw as shoppers lined up for the new $2,000 device, helping the brand set a brand new trading record for itself.
Eager shoppers buying the new foldable phone boost the stock
Stores in major cities saw large installations and long lines as the new foldable model arrived. The company put a strict limit on early orders, only letting people buy two devices each. This premium phone costs $2,000, and early demand was so high that it easily quieted rumors about production problems.
Because of this successful rollout, the total value of the business reached $5.12 trillion. The previous leader NVIDIA is now back in second place, with Google right behind it. Investors feel good about how the company handles its money, especially since it avoids the massive spending that others use for artificial intelligence projects.
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Even with some early worries about high stock prices, the excitement around the iPhone Duo kept pushing the numbers up all day. The decision to finally release a foldable device clearly paid off, giving the brand a massive financial win to end the week. The focus now shifts to seeing if it can hold onto this lead as the holiday shopping rush begins.
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