Apple's valuation just nudged over $800bn for the first time

 
Emma Haslett
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Apple is the most valuable publicly traded company in the world. (Source: Getty)

Apple's market capitalisation shot past $800bn (£619bn) for the first time today, as its shares edged to their highest-ever.

The tech giant was already the most valuable public company in the world - but after shares rose 1.2 per cent to $154.79, their highest ever, now it is worth almost $300bn more than its nearest rival, Microsoft, which is currently worth just over $500bn.

Shares in Apple have risen 33 per cent this year, despite last week's wobble after it reported a surprise drop in iPhone sales, which fell to 50.8m in the first quarter of this year, from 51.2m during the same period in 2016.

However, over the weekend Warren Buffett, one of Apple's largest investors, struck an optimistic tone at a shareholder meeting over the weekend.

Buffett, who invested in IBM six years ago, said he thought the company would perform better than it has.

Referring to Apple, he added:

I was wrong on the first one and we’ll find out if I am right or wrong on the second.

I don’t regard them as apples and apples, and it’s not quite apples and oranges. It’s something in between.

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