Apple is again the most valuable U.S. public company
Two months after losing its title as the most valuable U.S. public company, and a month after revealing that iPhone sales were disappointing in the holiday season, Apple Inc. has regained its throne for highest market capitalization. Apple shares added 6 cents Wednesday after announcing the departure of retail chief Angela Ahrendts on Tuesday afternoon, and ended the session with a market cap of $821.6 billion, according to FactSet data. That performance was good enough to land atop Microsoft Corp. and Amazon.com Inc. , which both declined 1.1% on the day. Microsoft moved ahead of its tech rivals late last year, and has jockeyed for the top position with Amazon since. Alphabet Inc. was less than 3% away from the top spot before it announced earnings earlier this week, but shares in Google's parent company gained only slightly Tuesday after spending concerns clouded its earnings beat, and fell 2.7% Wednesday. At the end of Wednesday trading, Microsoft was worth $813.5 billion, Amazon was worth $805.7 billion and Alphabet was worth $778.1 billion, according to FactSet data. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.