SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Apple shares receive delayed AI boost

Apple is nearing its position as number one on Wall Street. The iPhone manufacturer's share received a substantial boost on Wall Street on Tuesday – a rebound upwards following the initial disappointment over the iPhone manufacturer's new major investment in artificial intelligence.

» Updated: 16 July 2024, 15:00

» Published: 12 June 2024

Apple shares receive delayed AI boost
Photo: Jeff Chiu AP/TT

Apple is approaching its position as number one on Wall Street.

The iPhone manufacturer's share received a significant boost on Wall Street on Tuesday – a rebound upwards after the initial disappointment over the iPhone manufacturer's new major investment in artificial intelligence.

The Apple share lifted by 7.3 per cent to a new record level in Tuesday's stock exchange trading. The technology giant thereby consolidated its second place in terms of market value on Wall Street with a valuation of 3,176 billion dollars (approximately 33,250 billion kronor).

The share price increase is the largest for the Apple share on a trading day since November 2022. And the gap to number one – Microsoft – is now "only" just under 40 billion dollars.

Number three on Wall Street is one of the rocket shares in the AI wave: the semiconductor manufacturer Nvidia with a stock market value of 2,974 billion dollars.

Since the turn of the year, Apple – including the lift on Tuesday – has risen by 7.6 per cent. Microsoft is up 15.1 per cent, while Nvidia – one of this year's rocket shares – has increased its stock market value by over 144 per cent.

Apple's CEO Tim Cook presented the company's new AI initiatives on Monday, including a partnership with Open AI and upgrades to the digital assistant Siri and other new AI tools for users of Apple's operating system.

Apple, with its new record high, is now more than twice as valuable as all the shares on the Stockholm Stock Exchange combined.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

He became "PG" to the entire Swedish people
3 MIN READ

He became "PG" to the entire Swedish people

PG Gyllenhammar is dead
1 MIN READ

PG Gyllenhammar is dead

No Nvidia boost on Wall Street
1 MIN READ

No Nvidia boost on Wall Street

Temu's owner shows its hand
1 MIN READ

Temu's owner shows its hand

Nvidia rises in pre-trading on Wall Street
1 MIN READ

Nvidia rises in pre-trading on Wall Street

Northvolt Files for Reconstruction
1 MIN READ

Northvolt Files for Reconstruction

Northvolt: Negotiations are still ongoing
3 MIN READ

Northvolt: Negotiations are still ongoing

Higher Compensation for Job Interviews in Another Location
1 MIN READ

Higher Compensation for Job Interviews in Another Location

Vehicle Giant Warns of Challenges in 2025
1 MIN READ

Vehicle Giant Warns of Challenges in 2025

Unchanged interest rate in Turkey
1 MIN READ

Unchanged interest rate in Turkey

Trump anxiety in the EU over US tariffs
3 MIN READ

Trump anxiety in the EU over US tariffs

Weak demand for scrapping premium
1 MIN READ

Weak demand for scrapping premium

E-fuel company takes in half a billion
1 MIN READ

E-fuel company takes in half a billion

New Report Boost for AI Giant Nvidia's Share
2 MIN READ

New Report Boost for AI Giant Nvidia's Share

Stockholm Stock Exchange Turned Upwards
1 MIN READ

Stockholm Stock Exchange Turned Upwards

Bitcoin closer to the dream limit
1 MIN READ

Bitcoin closer to the dream limit

Higher fee to stop burning of plastic
2 MIN READ

Higher fee to stop burning of plastic

USA wants to force Google to sell Chrome
2 MIN READ

USA wants to force Google to sell Chrome

New method reveals pension fraud
3 MIN READ

New method reveals pension fraud

Most Minus Signs on Asian Stock Exchanges
1 MIN READ

Most Minus Signs on Asian Stock Exchanges