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.

19th September 2019

When compared to the second quarter of 2018, the surplus grew by €24 million.

18th September 2019

In total, the project will feature seven flyovers, and provide 12 kilometres of uninterrupted lanes.

18th September 2019

Malta is against the removal of tax exemption on aviation and shipping fuels from the EU Energy Tax Directive.

18th September 2019

The project is aimed at strengthening financial literacy for individuals, both at a personal and at a professional level.