WORLDTECHApple regains most valuable company crown on iPhone Duo launch day
Apple has regained the title of most valuable company in the world from Nvidia, according to 9to5Mac, on the day its foldable iPhone, the iPhone Duo, goes on sale. The outlet reports that the shift came as Apple's stock reached new trading highs.
Share price sets intraday record
According to 9to5Mac, Apple stock rose above $351 per share on Friday, a new intraday high for the company. That gain took Apple past Nvidia, which had held the top position when companies are ranked by market capitalization.
The same report says Wall Street is pleased with the development on the day the iPhone Duo launches around the world.
Foldable iPhone reaches shops on release day
The iPhone Duo is Apple's foldable iPhone and costs $2000. Its release date coincides with the share price milestone, which 9to5Mac ties to the launch.
Apple is a software and consumer electronics company based in Cupertino. Nvidia is a semiconductor company based in Santa Clara.
Open questions
- Will Apple keep the top market capitalization position after Friday's trading?
- How much of the share gain is linked to the iPhone Duo launch rather than other factors?