Apple Reclaims Its Title as King Of The Tech Giants

Vanessa Conneely - 7th February 2019

The company pipped Microsoft and Amazon to the post.

Tech giant Apple has bitten back the coveted title of most valuable public company in the world. It pipped its rivals Microsoft and Amazon to the post on Wednesday with a market capitalization of $821.59 billion (724.66 billion).

Microsoft ended the trading day with a market value of $813.48 billion (717.49 billion) and Amazon ended the day with a market value of $805.70 billion (710.62 billion). The three companies have been rotating the top spot since late last year with Microsoft ending 2018 on a high before Amazon briefly stole the crown.

But recent figures have allowed Apple to claw back some gains, after it suffered a steep loss in market value in early January on the back of warning investors to expect weak revenue for its first quarter 2019. In the three months leading up to the warning, investors already predicted a drop in revenue, leading Apple’s market cap to leak $452 billion (€399 billion).

But Apple’s warning actually worked in its favour and its report was well-received. The stock soared nearly 7 per cent the day after Apple's report, where it proved strong services margins even as its iPhone revenue was down 15 percent.

Amazon and Microsoft's earnings reports, on the other hand, under-delivered compared to analysts' expectations.

Helena Grech - 18th June 2019

The €25.1 billion pension entitlement is equivalent to 242.3% of Malta's GDP.

Helena Grech - 17th June 2019

“Bank of Valletta plc has intensified its endeavours to engage alternative correspondents to minimise any possible operational disruption to its business and its clients," it said in a statement.

14th June 2019

Malta’s participation will be coordinated by Malta Enterprise under the auspices of the Ministry for the Economy, Investment and Small Businesses.

Helena Grech - 13th June 2019

The summer ban on excavation and demolition works ordinarily begins on 15th June however this only applies to touristic areas where as the announced ban is to apply across Malta.