With the consumer price index (CPI) coming in softer than market expectations, interest rate cuts could be on the horizon. This news triggered a market rally, sending the S&P 500 Index (^SPX) above 5,400 for the first time in history, marking 12 June 2024 as a significant day for the market. The positive market outlook was further bolstered by the exciting developments revealed during Apple’s (NASDAQ: AAPL) Worldwide Developers Conference (WWDC) 2024, which propelled Apple’s stock to an all-time high. On that day, Apple briefly overtook Microsoft (NASDAQ: MSFT) as the world’s most valuable company, although it lost this position before the market closed, as shown below. Source: Author’s Calculation Apple faced challenges at the beginning of 2024 due to weak iPhone sales in China for the first quarter of fiscal year 2024 (1Q FY2024) ending 31 December 2023. This weakness pushed Apple’s stock price to its 52-week low in April this year but the iPhone manufacturer managed to stage a remarkable comeback....