Apple has become the most expensive publicly traded company in the US

Apple overtook Microsoft on Thursday to become the most valuable public company in the United States. Announcements at the annual Worldwide Developers Conference, including generative AI features for the iPhone, helped drive the stock higher.

Apple’s stock rose.

Market Value and Stock Growth

Apple’s market capitalization at the close of trading Thursday was about $3.29 trillion, surpassing Microsoft’s $3.28 trillion. Apple shares rose 0.6% on Thursday and 8.8% for the week. Microsoft shares were also up 0.1% on Thursday. Apple’s return to the top comes just a week after Nvidia surpassed the company on June 5 to become the second-largest publicly traded company in the United States. Nvidia now ranks third, behind only Microsoft and Apple.

And it’s now in third place, behind only Microsoft and Apple.

Partnership with OpenAI

On Monday, Apple announced a partnership with ChatGPT creator OpenAI to beef up some of the features of its phones. While the partnership is likely to give the company a much-needed boost, it has also drawn criticism. Partnering with a technology that has yet to gain public trust could lead to privacy concerns in the future, especially in light of Apple’s priorities for the security and anonymity of its users.

Growth Prospects

The big push into AI, however, could drive iPhone sales and services growth for years to come, as users now wait longer with upgrades to their devices and the uncertain economic situation is affecting consumers, especially in China. The company also faces regulatory scrutiny in Washington.

The company is also facing regulatory scrutiny in Washington.