Microsoft Surpasses Apple As The World’s Most Valuable Company

Apple Inc was dethroned as the world's most valuable public corporation by Microsoft Corp, as the iPhone maker's stock dropped by around 2%. The shift comes after Apple's earnings report, which showed outstanding profits but also revealed a $6 billion loss due to supply chain issues. Microsoft's stock has risen 49 percent this year, owing to increased demand for its cloud-based services as a result of the epidemic. Office, Windows, and Microsoft's cloud products all contributed to the company's favorable results.

Apple's stock fell 1.8 percent to $149.80 at the close of trading, giving the firm a market valuation of $2.48 trillion. Microsoft, on the other hand, surged 2.2 percent to a new high of $331.62, giving the company a market valuation of $2.49 trillion at the close of the session. This isn't the first time Microsoft has topped Apple's market cap; the Windows manufacturer did so for the first time since 2010 in 2018 and again in July 2020. Apple, on the other hand, has long been a market leader, has become the first US business to reach a $1 trillion market valuation in 2018, and the first US corporation to reach a $2 trillion market cap just two years later. So, it's not out of the question that Apple can reclaim the title of the world's most valuable corporation in the future.