Shares of Apple Inc. rallied 1.7% toward a 10-month high in morning trading Wednesday, after rising 1.2% the previous sessions on the back of the technology behemoth s iPhone launch event. With the stock s recent rally, Apple is on the verge of getting back to being a trillion dollar company, something it hasn t been since Nov. 1, 2018; Apple s market capitalization is currently $995.4 billion. The stock only needs to rise another 0.5% to close at or above $221.28 for Apple s market cap to top $1 trillion, based on the latest disclosed 4.52 billion shares outstanding as of July 19. Getting back to being a trillion-dollar company would complete a recovery from a market-cap low of about $672.5 billion on Jan. 3, when the stock closed at a 21-month low of $142.19. Since then, Apple s stock has run up 55%, while the Dow Jones Industrial Average has gained 19%. Apple s market cap is still behind first-place Microsoft Corp. at $1.04 trillion, but is nearly $100 billion above third-place Amazon.com Inc. at $898.0 billion.
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