From Nasdaq, Inc.:

-Apple has lost its position as the world’s most valuable company to Microsoft, with both tech giants being worth around $2.9 trillion. The shift comes as Microsoft has been steadily closing the gap, partly due to its early investments in generative AI.

-Fast Retailing, the company behind Uniqlo, saw a surge in stock price of over 7%, driving the Nikkei to a post-Bubble peak. However, the Nikkei’s 6.3% increase this year has not been reflected in other global markets, with Britain’s FTSE down 2% and Europe’s STOXX 600 shedding 1.3%.

-China’s stock market continues to disappoint, with mainland blue chips and Hong Kong’s Hang Seng both slumping over 4% since the start of the year. This poses a potential risk for both Apple and Fast Retailing, given the outsized importance of the Chinese market for both companies.



Read more: MORNING BID EUROPE-Apple gets pipped, Uniqlo lifts the Nikkei