Apple Tops Microsoft As World's Second-Most Valuable Company After Stock Rally

Core Insights - Apple has surpassed Microsoft to become the world's second-most-valuable company, with a market capitalization reaching approximately $3.9 trillion, driven by strong demand for the iPhone 17 [1][4]. Sales Performance - The iPhone 17 has outperformed the iPhone 16 by 14% in sales within the first 10 days of its release in China and the U.S. [2] - Sales of the base iPhone 17 model account for 22% of Apple's new offerings, reflecting a 31% increase compared to the initial sales of the iPhone 16 [2]. Stock Market Reaction - Apple shares closed at $262.24, marking a 3.9% increase and the highest closing price in the company's history [1][2]. - The stock has risen 5.9% in the last week of trading [2]. Analyst Commentary - Counterpoint senior analyst Mengmeng Zhang highlighted the value proposition of the iPhone 17, noting its feature improvements and competitive pricing, which have resonated well with consumers, particularly in China [5]. Historical Context - Despite a 5% increase in stock value since the beginning of the year, Apple has faced challenges, including a significant drop in market cap due to tariff announcements by the previous U.S. administration [5]. - The company lost nearly $640 billion in market cap following tariff-related decisions but managed to secure conditional exemptions for iPhones and semiconductors [5].