Microsoft has surpassed Apple as the most valuable firm in the world. Apple's stock dipped on Friday, October 29, after the company's earnings report fell short of expectations, allowing Microsoft to overtake Apple as the world's most valuable company.
Apple's stock plummeted 4% to 147.10 per share on Friday, putting the company's market capitalization at $2.43 trillion. Microsoft's stock surged 0.9 per cent to 327.30 per share, putting its market capitalization at $2.45 trillion, only a hair ahead of Apple, which had held the top spot for the previous year.
The Windows-maker surpassed Apple’s market cap in 2018 for the first time since 2010 and once again in July 2020. (Alphabet has also taken the crown from Apple, surpassing Apple’s market cap in 2016.)
But Apple has been a leader in the markets for some time, being the first US company to hit a $1 trillion market cap in 2018 and, just two years later, becoming the first US company to hit a $2 trillion market cap. So there is a possibility that Apple will take back the position.
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