Apple And Microsoft Remain The World’s 2 Most Valuable Companies

(CTN News) – After the end of July, Apple and Microsoft remained the two most valuable companies in the world, as they continue to hold the top two positions.

It was announced last month that Apple became the first company in the world to reach the $3 trillion mark in its market value.

With this milestone, the tech company hopes to expand into new markets and expects to see US interest rates rising at a more moderate pace than in the past.

At the end of last month, the market sentiment was lifted by strong quarterly earnings from companies such as Alphabet, Meta Platforms, Intel, and Lam Research, which provide Apple chip equipment for the chip industry.

Meta, the owner of Facebook, increased the value of its market capitalization by more than 10% in July, thanks to the company’s rosy revenue forecast and robust growth in its ad revenues in the second quarter.

Despite beating Wall Street expectations for its fiscal fourth-quarter revenue, Microsoft’s share price dropped 1.4% in July after it also revealed an aggressive spending plan to meet the growing demand for artificial intelligence services.

As a result of its cloud computing and office software businesses, Microsoft also beat Wall Street estimates for its fiscal fourth-quarter revenue.

At the end of July, the market cap of the company stood at $2.49 trillion.

It is expected that Apple will announce its earnings for the quarter ending in April-June on Thursday afternoon.

There is no doubt that a new tech bull market has started this year, and Dan Ives, of Wedbush Securities, recently wrote in a note to investors that the Apple AI Gold Rush is more like a “1995 Moment” similar to the beginning of the Internet than it is a “1999/2000 Bubble Moment.”

As the largest US Apple lender grew its profits from borrowers’ interest payments last month as well as benefits from the sale of First Republic Bank, JP Morgan Chase’s (JPM.N) market cap rose about 8.6% as a result of the growth of its interest payments from borrowers.

According to Refinitiv data, 69% of large- and mid-cap companies in the US have exceeded analysts’ Q2 earnings estimates so far, with 82% of these positive surprises coming from the technology sector.

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