April 25, 2019

Microsoft tops Apple as world's most valuable company

28 November 2018, 05:28 | Joann Bryant

A Microsoft logo is seen a day after Microsoft's $26.2 billion purchase of LinkedIn in Los Angeles California US

A Microsoft logo is seen a day after Microsoft's $26.2 billion purchase of LinkedIn in Los Angeles California US

But with all this movement, those top players are snapping at each others heels, and nowhere is this more evident than yesterday, when Microsoft briefly overtook Apple as the biggest tech company by valuation. This number exceeded Apple's market cap of $812.60 billion.

Apple's market cap ultimately regained its No. 1 rank, closing at $828.64 billion as of 4:05 NY, while Microsoft's stood at $822.90 billion after the two spent much of Monday afternoon jockeying for the top seat. This marks a momentous event for the Bill Gates-founded company, since the last time that it was hailed as more valuable than Tim Cook's business was in 2010, as per Business Insider. Apple was even lauded for being the first US company to have a $1 trillion valuation just this past August.

Instead, it's likely that Apple's recent struggles with low demand for its latest iPhones are what caused the company's stock - and thus, its market cap - to slide. While Microsoft dominated Apple during the 80s and 90s, Steve Jobs finally one-upped Bill Gates with the release of the iPod and then the iPhone in the mid-2000s.

The Nasdaq has fallen more than 12 percent since the end of September, with high-flying tech names experiencing big drops. However, the lead has been shifting back and forth between the two of them.

A steep decline in the iPhone maker's share price has left its market capitalization roughly the same as fellow technology bellwether Microsoft Corp. for the first time in more than eight years. At least where money is concerned, the Microsoft vs. Apple rivalry is as fresh as ever.

Microsoft just surpassed Apple in terms of market capitalization.

Other News

Trending Now

Parliament seizes cache of Facebook documents in ‘unprecedented move’
MPs have threatened to publish internal Facebook papers that were seized by a parliamentary official in an "unprecedented" intervention.

Trump admin issues surprising statement over Russian aggression against Ukraine
Turkey, which is more focused on threats to the south emanating out of Syria, could be resistant, he said. Western experts and politicians also said the escalation was unlikely to go too far .

PSG coach Thomas Tuchel: Liverpool clash crucial for us
Jurgen Klopp is facing a potential blow as he could be without Sadio Mane for the game. Tuchel said, "We are aware that this meeting against Liverpool is crucial for us".

Police use tear gas on migrants at USA border
Customs and Border Protection helicopters flew overhead, while U.S. agents on foot watched beyond the wire fence in California. Mexico's Interior Ministry said Sunday it would immediately deport those who tried to "violently" enter the USA from Tijuana.

Scientists refute genetic modification of twins claim made by Chinese researcher
A Chinese scientist has claimed that he has helped birth the world's first-ever genetically edited babies - a pair of twin girls. Sangamo Therapeutics In., a firm that uses a gene-editing platform known as Zinc finger nuclease, rose as much as 3.4 percent.

Newcastle climb away from danger zone with Burnley win
Chris Wood had a night to forget against Newcastle . Few stood out for Burnley at Turf Moor. Substitutes: Joselu (6), Hayden (N/A).

Signs with nooses refer to MS lynchings
MS has a history of racially motivated lynchings and violence against people who sought voting rights for black citizens. If elected, Espy would be the first black person elected to the Senate from the state since the era of Reconstruction.

Walmart's Cyber Monday 2018 Early Gaming Deals: Nintendo Switch Bundle & More
For obvious reasons, most retailers have been focusing their advertising efforts on Black Friday in recent weeks. Walmart says it will have "thousands more deals" this year than it's had on Cyber Mondays in the past.

Sheikh Mohammed bin Rashid meets with Saudi Crown Prince Mohammed bin Salman
Almost 100 Egyptian journalists have announced their rejection of the visit of Saudi Crown Prince Mohammad bin Salman to Cairo. Numerous U.S. lawmakers have said they intend to push for U.S. sanctions against Saudi Arabia because of Khashoggi's killing.

General Motors to slash 14,000 jobs in North America
The company has said tariffs on imported steel, imposed earlier this year by the Trump administration, have cost it $1 billion. Barra that GM should stop making cars in China and open a new plant in OH to replace the facility targeted for closing.