Apple surpasses Microsoft as world’s most valuable company after unveiling AI plans

Apple surpasses Microsoft as world’s most valuable company after unveiling AI plans

Apple CEO Tim Cook attends the annual developers conference event at the company’s headquarters in Cupertino, California, on June 10, 2024.

Carlos Barria | Reuters

Apple surpassed Microsoft on Wednesday to become the most valuable company in the world, after it announced its push into artificial intelligence during its developers conference keynote on Monday.

Apple had a market cap of $3.3 trillion as of about 10:45 a.m. ET, edging out Microsoft’s market cap of $3.2 trillion. Investors, after digesting Apple’s expansive plans for artificial intelligence across its family of devices, sent shares surging more than 7% to a record high on Tuesday.

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