APPLE NEWS

Microsoft overthrew Apple and became the most valuable company in the world


AppleInsider is supported by its audience and can earn a commission as an Amazon Associate and associate partner for eligible purchases. These affiliate partnerships do not affect our editorial content.

Microsoft on Friday overtook Apple as the most valuable company in the world by market capitalization, with about $ 100 billion difference between the two companies when markets closed.

Apple’s market value, calculated by multiplying the share price by the number of shares outstanding, was $ 2.477.95 trillion on Friday at 4 p.m. Eastern Time. Microsoft’s capitalization was $ 2.489.57 trillion.

The difference was larger earlier on Friday, although Apple’s stock price strengthened after opening at a low of about $ 147 per share.

Apple shares ended at $ 149.81, down 1.81% on the day.

Microsoft’s stock price, on the other hand, has risen since Tuesday. The company’s stock price on Friday ended at $ 331.62.

Apple’s stock price when it released quarterly earnings on Thursday that exceeded Wall Street expectations on Thursday. Despite worse-than-expected stock prices, Apple’s September quarter was still a record and the company recorded strong growth in most of its product categories.

According to Apple executives, the company lost about $ 6 billion in revenue due to constant supply constraints and chip shortages affecting industries around the world.

Apple was the first American company to reach a market capitalization of 1 trillion and 2 trillion dollars. It became the most valuable company in the world when it overtook Saudi Aramco in the 2020 valuation.

Microsoft last overtook Apple in market value in 2020 when a coronavirus pandemic wreaked havoc on supply and market chains. Apple recovered, regained its top position and continued to set new records in all its product categories during the pandemic.

Although Apple was the first U.S. company to reach a market capitalization of $ 2 trillion, Microsoft crossed that threshold in June 2021. Since then, the company’s stock price has risen by 34%.

Apple’s share price has risen 20.5% since June 2021.



Source link

Naveen Kumar

Friendly communicator. Music maven. Explorer. Pop culture trailblazer. Social media practitioner.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button