Mon. Oct 14th, 2019

Apple having trouble holding on to a trillion-dollar valuation

1 min read

Shares of Apple Inc.

AAPL, -0.77%

fell 0.8% in afternoon trading Thursday, to pull the technology giant’s market capitalization back below the trillion-dollar mark after just one day above it. With 4.52 billion shares outstanding as of July 19, the stock has to close at or above $221.28 for Apple to have a market cap of at least $1 trillion. The market cap was down to $998.5 billion after closing at $1.007 trillion on Wednesday. Apple’s market cap closed above $1 trillion in back-to-back sessions last week, on Sept. 11 and Sept. 12, for the first time in nearly a year, as Apple held a $1+ trillion market cap for 65-straight sessions from Aug. 2, 2018 to Nov. 1. Meanwhile, Microsoft Corp.

MSFT, +1.86%

remains the most valuable U.S. company with a current market cap of $1.077 trillion, after that software giant raised its dividend, effectively lifting the dividend yield above Apple’s, and approved a $40 billion stock repurchase program, to mark the 73rd-straight session in 13-digit territory. Apple’s stock has rallied 40.1% year to date and Microsoft shares have gained 38.8%, while the Dow Jones Industrial Average

DJIA, -0.04%

has climbed 16.5%.

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