Not long ago, the “jumping around” on the American stock market among the largest issuers was determined by trends in the artificial intelligence industry, with Nvidia briefly becoming the world’s most valuable company, but Apple has held that title lately. It was displaced from the top spot by Microsoft this week.
Image Source: Apple
As CNBC explains, the previous four trading sessions have reduced Apple’s capitalization by 23% to $2.59 trillion amid concerns about the impact of new US customs duties on the company’s business, whose revenue is still roughly 50% determined by the sale of iPhones, assembled primarily in China and India. At the same time, Microsoft’s capitalization as of Tuesday evening was $2.64 trillion, which formally allows it to be considered the most expensive company in the world.
Not long ago, Apple and Microsoft, along with Nvidia, could boast a capitalization of more than $3 trillion each, but the correction in the US stock market has pushed quotes down to a lower level. Over the past four trading sessions, the Nasdaq index has fallen by 13%. According to analysts at Jefferies, Microsoft remains one of the few in the US stock market whose business is more or less insulated from the impact of tariff uncertainty. The software giant held the status of the company with the largest capitalization in the world since the beginning of 2024, but later gave way to Apple. Nvidia has reached the top of the stock market from time to time.