Apple Inc.’s market value briefly topped $800 billion for the first time on Monday, as the stock rocketed further into uncharted territory after Warren Buffett’s Berkshire Hathaway Inc. disclosed it boosted its stake in the technology giant to nearly $20 billion in recent months.
This tops its previous peak market value of $774.91 billion to remain the only U.S.-listed stock with a market value of more than $700 billion. Even with other tech stocks near record highs, Apple dwarfs Alphabet, at $646.6 billion, Microsoft at nearly $536.4 billion and Amazon at $451.5 billion.
This puts Apple in a very good position, prior to its 10th anniversary iPhone, rumored to be called the iPhone 8, which is expected to be unveiled in September of this year. Although Apple sold slightly fewer iPhones than the year before (50.8 million versus 51.2 million units), it made more money on the back of the pricier iPhone 7 Plus.
Tim Cook attributes this decline in recent sales to the abundant rumours of the upcoming iPhone.