Apple’s stock price rose 1.61%, reaching a new all-time high, after the Wall Street Journal (WSJ), a leading U.S. economic newspaper, ranked it the best-managed company. Its market capitalization has now surpassed $3.73 trillion.
On Monday, Apple closed at $246.75 on the New York Stock Exchange, up 1.61%, marking a record-high closing price.
This increase pushed Apple’s market cap to an estimated $3.73 trillion, crossing the $3.7 trillion milestone.
Apple’s stock surge is attributed to WSJ’s ranking, which placed Apple first in its list of the best-managed companies in the U.S. The ranking, which analyzed 250 companies, saw Nvidia take the second spot, followed by Microsoft and Mastercard.
Developed by the Drucker Institute, the ranking assesses management efficiency across five categories: customer satisfaction, employee engagement and development, innovation, social responsibility, and financial health.
As a result, Apple’s stock has risen by 9% over the past month.
However, concerns about overvaluation are emerging. On Monday, Apple’s price-to-earnings ratio (PER) stands at 40, significantly higher than the typical range of around 20.
Analysts hold mixed views on Apple: Jefferies has assigned a neutral rating, Wedbush Securities rates it as outperform, while KeyBanc has taken a more cautious stance with an underweight rating.