iPhone 11 launch takes Apple ahead of Microsoft in $1-trn market cap club

The pent-up demand for its newly-released iPhone 11 series has made Apple the most valuable company in the US again, ahead of Microsoft with a $1.07 trillion market cap.

Sailing through the US-China trade war that may impact its devices too, Apple stock has reached $236.21 to beat the previous high set just over a year ago.

The news that Chinese and American trade negotiators have reached a preliminary agreement aimed at easing the ongoing trade war between the two nations after holding a new round of high-level talks in Washington, DC, also helped Apple as a proposed 15 per cent tariff looms on $156 billion in Chinese goods, including smartphones and other consumer goods, from December 15.