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Apple Outpaces Microsoft with AI Boost: Stocks Soar to Record Highs

TechApple Outpaces Microsoft with AI Boost: Stocks Soar to Record Highs

Apple’s recent decision to incorporate generative artificial intelligence (AI) into its iPhones is expected to boost demand for the latest models significantly. This move has increased Apple’s stock prices, helping it reclaim the top spot in market capitalization and extending its lead over Microsoft by more than $200 billion. These developments have fueled expectations that Apple could become the first U.S. company to reach a market capitalization of $4 trillion.

On the 15th, Apple hit another all-time high on the New York Stock Exchange due to an upward revision of the investment firm’s target price. Apple recorded $234.40, up 1.67% from the previous day.

Yahoo Finance Capture

Apple’s market capitalization has been calculated at approximately $3.594 trillion, nearing $3.6 trillion. This places it about $221 billion ahead of the second-ranked Microsoft, which has a market capitalization of $3.373 trillion.

Yahoo Finance Capture

Loop Capital upgraded its rating on Apple from Hold to Strong Buy on the same day and raised the target price to $300. This suggests room for a further 28% rise from the current stock price.

Recently, Apple’s stock has been rallying every day since the decision to equip iPhones with AI. In contrast, Microsoft and Nvidia are faltering. In particular, Nvidia, which was expected to be the first company to break through a market cap of $4 trillion, has been struggling recently.

On the same day, Nvidia recorded $128.44 on the New York Stock Exchange, down 0.62% from the previous trading day.

Yahoo Finance Capture

Nvidia’s market capitalization was calculated to be $3.159 trillion, approximately $435 billion less than Apple’s.

On the same day, TD Cohen increased Nvidia’s target price from $140 to $165 while maintaining a Buy rating on the shares. However, this adjustment did not trigger a significant reaction from investors who were waiting for Nvidia to demonstrate stronger performance in the upcoming quarterly results.

After the last quarter’s results were released, Nvidia’s stock surged. However, the stock has been faltering recently, which is interpreted as investors seeking stronger performance to justify the current stock price.

Microsoft rose by just 0.09% and ended the day at $453.96.

Yahoo Finance Capture

If the current trend persists, Apple is on track to be the first company to surpass a $4 trillion market capitalization, showcasing its robust and sustained growth.

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