Apple is the world’s most valuable company again, after gaining $400 billion yesterday
The iPhone maker rose more than 15% on its best day since 1998.
Apple just added nearly $400 billion to its market cap, with shares soaring more than 15% on Wednesday — the company’s biggest single-day gain since 1998, per CNBC.
To put that jaw-dropping ~$400 billion surge into perspective, it’s nearly as much as the market cap of Netflix ($404 billion) and just shy of a slew of consumer giants like McDonald’s, Starbucks, Adidas, and Domino’s combined.
Obviously, the rally was only really possible on the back of Apple’s worst four-day slide since 2000, which wiped out nearly a year’s worth of market gains, triggered by fears around President Trump’s sweeping reciprocal tariffs.
Yesterday’s surprise announcement of a 90-day pause on those tariffs seriously flipped Apple investors’ collective mood, though how long that will last is unclear. The proposed levies would still slam Apple’s sprawling overseas supply chain, which stretches across Vietnam, India, Malaysia, and Ireland, if they land in July.
On the face of it, Apple fans imitated the wider market yesterday by acting like China — where 90% of iPhones are produced — didn’t just get hit by a fresh 125% reciprocal tariff, up from the previous 104%, amid the wider reprieve. The company itself doesn’t have the luxury of operating under the same illusions, having ramped up production in India before being forced to hurriedly ship 600 tons of iPhones back earlier this week.
Despite Wednesday’s surge, Apple shares are still down 5% over the past week, though it has at least reclaimed its crown from Microsoft as the world’s most valuable company... for now.
