Apple has piled on more than $400bn of market capitalisation so far this year, even as its profit margins fade and its new iPhone failed to wow analysts.
The share price of the tech company closed on Friday at a record high, up 65 per cent so far this year, its best run for a decade and almost three times the gain for the benchmark S&P 500.
The increase in its equity value since January comes to $407bn: almost as much as the entire market capitalisation of JPMorgan Chase, America’s biggest bank by assets. The higher price nudges Apple ahead of Microsoft — which itself is up 44 per cent — to regain the title of the world’s most valuable listed company, worth $1.16tn.
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