Microsoft briefly passes Apple in market cap for the top spot, as both companies hover around $2.87 trillion market capitalization
Microsoft is well on its way to take the crown as the world’s most valuable company.
When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
What you need to know
Microsoft ison the brink to surpass Apple as the world’s “most valuable company.“As a matter of fact, it’s already happened a couple of times today. The tech giant saw a 1.5% rise, pushing it to a market cap of $2.888 trillion beating Apple’s $2.887 trillion.
As we reported last week,Microsoft was already well on its way to overtake Apple. Microsoft’s rise to the top seat can be attributed to itsmulti-billion dollar investment in OpenAI’s technology, which has draw a lot of investor interest.
Apple’s shares on the other hand, fell by almost 1%. The iPhone maker’s reluctance to hop onto theAI bandwagoncoupled with a low demand for iPhone (particularly in the Chinese market) are among the main reasons that can easily explain the dramatic shift.
That said, Apple has been at the top of its game since 2010 with most of its success coming from the iPhone. Unfortunately, Microsoft hasn’t been able to crack the mobile scene, especially afterpulling the plug on Windows Phone.
At the height of the COVID-19 pandemic, Microsoft gave Apple a run for its money as companies shifted to hybrid work leading to an increase in demand for its cloud computing services.
This is a developing story. We’ll update it with more information throughout the day.
Get the Windows Central Newsletter
All the latest news, reviews, and guides for Windows and Xbox diehards.
Kevin Okemwa is a seasoned tech journalist based in Nairobi, Kenya with lots of experience covering the latest trends and developments in the industry at Windows Central. With a passion for innovation and a keen eye for detail, he has written for leading publications such as OnMSFT, MakeUseOf, and Windows Report, providing insightful analysis and breaking news on everything revolving around the Microsoft ecosystem. You’ll also catch him occasionally contributing at iMore about Apple and AI. While AFK and not busy following the ever-emerging trends in tech, you can find him exploring the world or listening to music.
