Microsoft Overtakes Apple As World's Most Valuable Company

Microsoft has surpassed Apple as the world's most valuable company, marking the first time since 2021, Noel Randewich reported for Reuters.

Microsoft added 1%, pushing its market capitalization to $2.887 trillion, a historic high. I Photo: Wpcpey Wikimedia Commons

Apple's shares faced concerns about demand, resulting in a 0.2% increase, while Microsoft added 1%, pushing its market capitalization to $2.887 trillion, a historic high. In contrast, Apple's market capitalization stood at $2.875 trillion.

Worries about smartphone demand led to a 3% decline in Apple's shares in 2024 after a 48% rally in the previous year.

Microsoft, up about 3% year to date, experienced a 57% surge in 2023, driven in part by its lead in generative artificial intelligence through an investment in ChatGPT-maker OpenAI.

Microsoft's incorporation of OpenAI's technology into its suite of productivity software contributed to a rebound in its cloud-computing business. This move has also positioned Microsoft to challenge Google's dominance in web search.

Meanwhile, Apple grapples with tepid demand, particularly for the iPhone, amid challenges in the Chinese market's slow recovery from the COVID-19 pandemic and increased competition from Huawei.

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