Microsoft passed Apple in Friday trading to reclaim the title of the world’s most valuable public company. Microsoft now has a valuation of $2.89 trillion, slightly ahead of the Tim Cook-led Apple at $2.87 trillion.
Eric J. Savitz for Barron’s:
Microsoft has been gradually closing the gap. Over the last 12 months, its shares have rallied 62.9%, versus a 39.4% gain for Apple. So far in 2024, Microsoft shares are 3.3% higher, while Apple is off 3.4%.
Microsoft’s valuation briefly exceeded Apple’s market cap on an intraday basis earlier this week, before falling back. Apple had spent more than 500 days as the stock market’s most valued company. Microsoft last held the top spot on a closing basis in November 2021.
The emergence of the artificial intelligence software boom has been a boost to Microsoft shares… Meanwhile, Apple has seen four consecutive quarters of year-over-year revenue declines…
MacDailyNews Take: With better management, Apple should be worth at least a trillion more than Microsoft currently. But, you can’t achieve those sort of results when you do things like miss transformative technologies like AI because you lack a visionary leader and have to resort to spending and scrambling madly trying to catch up to whatever you’ve blindly missed.
The difference between an operations guy following a static playbook — reacting to events instead of determining them — versus a visionary genius becomes ever more apparent with each passing year. – MacDailyNews, March 8, 2023
See also:
• Apple, caught by surprise in generative AI boom, to spend $1 billion per year to catch up – October 23, 2023
• With the advent of OpenAI’s ChatGPT, where is Apple’s generative AI strategy? – April 18, 2023
• Apple reportedly to ‘re-examine’ Artificial Intelligence development – March 8, 2023
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