Apple's market cap rises back above $700 billion, but it's still in 4th place

Apple Inc.’s stock AAPL, +4.27% jumped 3.9% in afternoon trade Friday, after tumbling 10% in the previous session, enough to take the technology giant’s market capitalization back above the $700 billion mark. Apple still sets in fourth place on the list of most valuable U.S. companies with a market cap of $700.9 billion, well behind third-place Alphabet Inc. GOOGL, +5.13% which rose 4.9% to $748.0 billion. Meanwhile, Microsoft Corp.’s stock MSFT, +4.65% hiked up 4.6% to stay in first place with a market cap of $782.4 billion, ahead of second place Amazon.com Inc. AMZN, +5.01% which climbed 5.1% to $770.6 billion. The rally in the biggest tech names compared with a 4.2% rise in the Nasdaq Composite COMP, +4.26% and the Dow Jones Industrial Average’s DJIA, +3.29% 751-point, or 3.3% gain.

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