Apple, Microsoft remain world's top 2 companies by market cap

FILE PHOTO: A women uses an iPhone mobile device as she passes a lighted Apple logo at the Apple store at Grand Central Terminal in New York City, U.S., April 14, 2023. REUTERS/Mike Segar/File Photo

(Reuters) - Tech giants Apple and Microsoft remained the top two global companies by market capitalisation at the end of July after riding this year's rally in technology shares.

Apple last month became the first company in the world to reach a market value of $3 trillion, buoyed by hopes over its expansion in new markets and expectations for more moderate U.S. interest rate hikes.