Microsoft extends rally with a record-breaking stock market value

4:30 pm Monday, June 17th, 2024

** Shares of Microsoft climb 1.3%, ending the session with a market cap of $3.33 trln, a record for any co, while Apple and Nvidia were close behind

** AAPL ahead of MSFT for part of the session before falling behind by the close

** The three cos remain in tight contention for the crown of the world’s most valuable co. AAPL rose 2% for the session, giving it a closing market cap of $3.32 trln, while NVDA dipped 0.7%, leaving it with a market cap of $3.22 trln

** AAPL now up ~12% since June 7, just before the co unveiled a long-awaited AI strategy, integrating “Apple Intelligence” tech across its suite of apps including Siri and bringing OpenAI’s chatbot ChatGPT to its devices

** AAPL is up 12% YTD, while MSFT has gained 19% and NVDA has soared 165%

(Reporting by Noel Randewich)