The surge in Apple Inc.'s stock (AAPL) has propelled the technology giant's market-capitalization back into trillion-dollar territory for the first time in 10 months. The stock surged 2.6% in midday trading, in the wake of Apple's iPhone launch event on Tuesday ( ). Based on 4.52 billion shares outstanding as of July 19, that would lift Apple's market cap to $1.004 trillion. The last time Apple's market-cap closed above $1 trillion ( ) was Nov. 1, 2018. Apple is still just the second-most valuable U.S. company by market cap, behind first-place Microsoft Corp.'s (MSFT) $1.035 trillion. Apple is well ahead of third-place Amazon.com Inc. (AMZN), which is currently worth $904.7 billion. Apple's stock has now run up 41% year to date, while the Dow Jones Industrial Average has gained 16%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 11, 2019 12:19 ET (16:19 GMT)
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