Microsoft today overtook Apple as the world's most valuable public company by market value. Apple's share price dropped by just one percent, enabling Microsoft to narrowly pull ahead of Apple at a value of $2.87 trillion.


Microsoft has briefly overtaken Apple as the most valuable company since 2018, most recently in 2020 and 2021 when concerns about supply chain shortages dented Apple's stock price and a boom in remote working bolstered Microsoft. Over the past year, Microsoft's support for artificial intelligence tools by backing OpenAI has helped boost its value, while equivalent offerings from Apple have been noticeably absent.

In its November earnings report, Apple's sales results missed expectations as demand for iPads and wearables was lower than expected. Mac revenue also saw a major drop compared to the previous year. It is yet to be seen how responses to the Vision Pro headset will influence the market, but expectations are relatively low due to low sales forecasts and the device's high price point.
This article, "Microsoft Overtakes Apple as World's Most Valuable Company" first appeared on MacRumors.com

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