Apple Inc. ( AAPL ) shares closed higher during Wednesday's session on continued strength following the company’s WWDC event.

The Cupertino, California-based tech giant has surpassed Microsoft Corp ( MSFT ) in market capitalization, reclaiming its title as the world's largest company.

Days after it unveiled its consumer AI strategy, Apple ( AAPL ) has become the first brand to surpass $1 trillion in brand value, according to a global ranking by Kantar's BrandZ. This marks a 15% increase from the previous year. Earlier this week, Apple ( AAPL ) unveiled new AI features, expected to reignite demand for iPhones and reverse a sales decline.

B of A Securities analyst Wamsi Mohan maintained Apple ( AAPL ) with a Buy rating and maintained a $230 price target.

With the recent buzz around Apple ( AAPL ), some investors may be eyeing potential gains from the company's dividends too. As of now, Apple ( AAPL ) offers an annual dividend yield of 0.47%, which is a quarterly dividend amount of 25 cents per share ($1.00 a year).

So, how can investors exploit its dividend yield to pocket a regular $500 monthly?

To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $1,278,420 or around 6,000 shares. For a more modest $100 per month or $1,200 per year, you would need $255,684 or around 1,200 shares.

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To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($1.00 in this case). So, $6,000 / $1.00 = 6,000 ($500 per month), and $1,200 / $1.00 = 1,200 shares ($100 per month).

Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.

How that works: The dividend yield is computed by dividing the annual dividend payment by the stock’s current price.

For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40).

Similarly, changes in the dividend payment can impact the yield. If a company increases its dividend, the yield will also increase, provided the stock price stays the same. Conversely, if the dividend payment decreases, so will the yield.

AAPL Price Action: Shares of Apple ( AAPL ) gained 2.9% to close at $213.07 on Wednesday.

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