Apple briefly fell behind Microsoft as the world's most valuable company, with its market cap slipping below $2.9 trillion for the first time since 2021
On Tuesday, Microsoft temporarily surpassed Apple as the world’s most valuable company, as reported by Refinitiv data. Microsoft’s ascent is driven by its ongoing success in the realm of cloud computing and its adeptness at sidestepping the disappointing financial outcomes and heightened regulatory scrutiny that have negatively impacted several of its major tech counterparts recently.
As of the latest closing, Apple, headquartered in Cupertino, California, has experienced a 3.3% decline in its stock in January, while Microsoft has seen a 1.8% increase during the same period.
The dip in Apple’s stock value is attributed to a succession of downgrades in ratings, sparking concerns that sales of its primary revenue generator, the iPhone, would remain sluggish, particularly in significant markets like China.
In 2010, Apple overtook Microsoft to claim the title of the world’s most valuable company, driven by the success of its consumer hardware business, while Microsoft faced challenges. However, in a strategic shift under CEO Satya Nadella, Microsoft has experienced significant success by redirecting its focus away from consumers and towards enterprise customers.
Satya Nadella’s leadership has been marked by a substantial investment in cloud computing over several years. This strategic move has established Microsoft as one of the key players, alongside Amazon, in the rapidly expanding cloud market. The emphasis on cloud computing has propelled the company to achieve its first-ever $100 billion sales year, marking a remarkable turnaround and highlighting Microsoft’s resurgence in the tech industry.
