Microsoft temporarily surpassed Apple to become the world's most valuable company

Microsoft

Microsoft

Apple's market cap hovered around US$823.66 billion as of 3:15 pm in NY, while Microsoft's stood at US$823.90 billion, although the two spent much of Monday afternoon jockeying for the top seat in intraday action. Apple closed at 828.64 billion, while Microsoft sat at $822.90 billion, according to Bloomberg.

Apple's market valuation of $812.60 billion dipped below Microsoft's $812.93 billion as of 1:05 p.m.in NY, meaning it had shed about $300 billion in value after cresting a record $1.1 trillion valuation in early October.

"Shares in Microsoft opened at $106.27, pushing its market capitalization to $815.75 billion, elbowing past Apple's opening value of $813.88 billion".




For the first time in years, Apple gave up its crown as the world's most valuable publicly traded company Monday, at least for part of the trading day. Apple was even lauded for being the first USA company to have a $1 trillion valuation just this past August.

It's notable nonetheless. It's been eight years since Microsoft was ahead of Apple, having fallen behind in 2010, but it's seen success from an increased focus on cloud and the enterprise. Amazon holds the third position in the world market with numbers about 736.6 billion dollars and Alphabet stands at the fourth position with nearly 725.5 billion dollars as their overall revenue. Shares have tumbled into a bear market, down almost 24% from where they closed September. Several suppliers have cut their forecasts, citing a drop in smartphone demand. Microsoft, on the other hand, proved to be better than other tech names after its first-quarter results showed it continuing to follow through on the vision of CEO Satya Nadella, who was appointed back in 2014. Microsoft shares are down 8% from their September close.

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