Apple overtook Microsoft as the world’s second most-valuable company Monday after a stock rally fueled by heightened demand for the iPhone 17.
Apple shares closed up 3.9% at $262.24 on Monday, marking the stock’s highest close of all time.This pushed the tech giant’s market cap near the $4 trillion mark for the first time ever, notes Forbes.
U.S. and China sales for the base iPhone 17 model account for 22% of Apple’s newest offerings, up 31% from the iPhone 16’s initial 10-day sales.
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