Apple has officially reclaimed the title of the world’s most valuable company by market value. The company outperformed Nvidia during intraday trading on Friday, sending its shares up 17 points this week.
Apple is also heading toward a $5 trillion valuation based on market capitalization. The company’s shares have already reached 4.9 trillion dollars. Nvidia has already claimed the title of the first company to cross the $5 trillion mark.
Friday’s move in Apple shares comes after several days of record highs for the company.
apple became cheaper for a short time following unprecedented price hikes on the company’s Mac, iPad and other products due to an ongoing global RAM shortage. However, the company than recovered after a week of trading.
The next milestone for the company will be to cross the $5 million market capitalization threshold.
Meanwhile, Apple is currently undergoing a CEO transition from Tim Cook to John Ternus. The announcement has been made official earlier this year. August will mark Cook’s last month as Apple CEO. Cook will remain as executive chairman of the board.
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