NEW YORK, April 10. /TASS/. Apple has restored its status as the world's most valuable company as its shares rebounded following a significant drop on the previous day, according to figures on the Companies Market Cap portal.
As of today, the corporation’s market capitalization has returned to $2.99 trillion, according to the portal. The value of Microsoft, which surpassed Apple on the list of the most valuable companies for some time after its shares dropped, currently stands at $2.9 trillion.
According to the Yahoo Finance portal, the price of iPhone shares stood at $198.85 per share as of the Wednesday close (4:00 p.m. East Coast Time, 11:00 p.m. Moscow time). Growth compared to the previous trading session reached 15.33%. In turn, the price of Microsoft shares rose by 10.13% to $390.49 per share.
On April 9, CNBC said that Apple experienced a 23% decline over the past four trading sessions, losing its status as the world’s most valuable company, ceding the top spot to Microsoft. As of the Tuesday close, the value of Microsoft was $2.64 trillion, while Apple’s market capitalization stood at $2.59 trillion. CNBC suggests that Apple was hit more than other US companies by the imposition of import tariffs on Chinese products due to its close trade relations with China.
Earlier, US President Donald Trump announced an increase in tariffs on Chinese products to 125%. China’s government said that it would raise additional tariffs on imports from the US to 84% starting April 10 as a retaliatory measure.