Microsoft passes Apple as world’s most valuable public company
A market cap of 2.89 trillion to cross Apple’s 2.87 trillion.
After two consecutive years, Microsoft has dethroned Apple. For the first time in two years, Microsoft claimed the title of the world’s most valuable public company after the announcement on Friday.
That said, we have to acknowledge that the Cupertino company missed the title only by a narrow margin.
Apple missed the throne by a narrow margin
According to data published by Bloomberg, Microsoft closed the day with a market capitalization of $2.89 trillion on Friday. Whereas Apple closed the day at a measly $2.87 trillion market value.
The outlet states iPhone company first took the crown of the most valuable public company in the world back in 2011, dethroning Exxon Mobil to take the crown – a company that held the title for most of the 2010s.
So, since October 2021, this is the very first time the Cupertino-based is not the most valuable public company in the world, as Microsoft has closed with a higher market capitalization.
The company’s stocks had a slow start in 2024, with several analyses showcasing concerns about reduced smartphone demand. In 2024, Microsoft’s stocks have risen 3.3%, while Apple’s stocks have dropped 3.4%.
Apple still has to report its Q1 2024 on February 1, which covers the holiday shopping season. And it also comes a day before the company is set to launch the Vision Pro, the company’s first mixed-reality headset in the United States.
- Apple Vision Pro demo will take a good chunk of your time
- Wi-Fi, RAM, and modem upgrades rumored for iPhone 16 series
- Microsoft shakes up keyboard layout with new AI Copilot key
- Get toasted with Microsoft’s new Xbox Series S toaster