Apple shares climbed to their highest point since the beginning of the year back in March and early April, before steadily falling week after week as news emerged of growing supply chain pressures, waning global demand for smartphones, and inflation battered markets worldwide.
Former number one Saudi Aramco rose as well, but Apple outperformed it. With a market capitalization of $2.42 trillion, it has reclaimed the top place from Saudi Aramco. Following a rough few weeks, the stock has risen more than 8.5 percent since Monday. Apple has reclaimed the title of most valuable corporation in the world after its stock price soared 8.54 percent this week, propelling it to a market valuation of $2.42 trillion.
Apple still faces inflationary pressures and a growing threat from retail workers who are publicly trying to form unions across retail stores in the U.S. Despite this, some analysts still believe in the stock. Wedbush’s Dan Ives remains bullish on its fortunes and described the year’s tech slump as a generational buying opportunity for some stocks including Apple. The famous ‘Big Short’ investor Michael Burry had a $36 million bet against the fortunes of Apple as recently as March 31.
In mid-May, Apple was unseated as the world’s most valuable company by Saudi Aramco after its shares fell by more than 5% in a single day. Shares bottomed out at the end of last week down at around $137 having opened the year at $182. However, this week its shares have surged by 11.77 points and 8.54% in just five days to restore Apple to the top of the market cap rankings with a value of over 2.42 trillion. Saudi Aramco’s shares fell slightly Friday but remain up for the week overall. YTD the Saudi Arabian Oil Company has seen its share price and value grow more than 25%, conversely, Apple’s share price has fallen by 17.78% in the same amount of time.
Nintendo recap: Sega’s Sonic plans and Pokémon fan pays tribute to OG art. Nintendo recap: Sega’s Sonic plans and Pokémon fan pays tribute to OG art. Three additional games found their way onto Nintendo Switch Online this week. Plus, we’re in the final stretch before the 3DS and Wii U eShops no longer accept purchases of any kind. There’s even more Nintendo news, so let’s dive in.
Apple will unveil the next round of software for its ecosystem at WWDC 2022 in June. It may also unveil new hardware, possibly in the form of a MacBook or iMac, before the customary summer lull in announcements that will precede Apple’s next best iPhone, the iPhone 14 and some other major products coming later this year. The countdown to WWDC is just down to one week at this point, and we’re excited to see what Apple has in store for all of our devices!
Review: Eliminate Wi-Fi dead zones on all your Apple devices at onceReview: Eliminate Wi-Fi dead zones on all your Apple devices at once. WiFi dead zones and spotty internet signal at home can be wildly frustrating. With the rockspace AX1800 Router and Extender you can improve internet reliability overall and eliminate WiFi dead zones for your Apple devices.
Automate your home with the best HomeKit smart plugs out there. If you’re new to home automation, a smart plug is a great first step in building out your connected home. You can simply plug it in and go. Here’s our guide to the best smart plugs for HomeKit.