Microsoft Dethrones Apple: Now World's Top Valued Company
Microsoft has reclaimed its position as the world's most valuable publicly traded company, surpassing Apple, a rival it has trailed for much of the past decade. At market close on Friday, Microsoft's stock (MSFT) stood at $338.47 per share, culminating in a market capitalization of $2.89 trillion. In contrast, Apple's stock (AAPL) closed at $185.92 per share, leading to a market capitalization of $2.87 trillion.
Market capitalization, the total value of a company's shares, reflects its market value and is a key indicator of corporate dominance. Microsoft's ascent to the top is attributed to its exceptional performance in the past year, particularly in the realm of generative artificial intelligence (AI).
In 2023, Microsoft CEO Satya Nadella made significant investments in AI, notably integrating AI tools like ChatGPT into its product range ahead of its competitors. This strategic move included bolstering Microsoft's partnership with OpenAI, the creator of ChatGPT, especially during a period of leadership changes at OpenAI.
In contrast, Apple has encountered several challenges. The tech giant has experienced a slowdown in iPhone sales, partly attributed to the Chinese government's reported efforts to limit purchases — a claim Beijing denies. This situation has allowed Huawei, a Chinese smartphone manufacturer, to capture a larger market share.
Additionally, Apple faced a temporary ban on selling its latest Apple Watch models in the United States, adding to its challenges.
Microsoft, maintaining a silent stance, declined to comment on this achievement. Apple, on the other hand, did not respond to CNN’s request for comment.
The shift in market capitalization marks a significant milestone in the tech industry, reflecting the dynamic nature of corporate competition and the growing importance of AI in shaping business success.