Microsoft passes Apple to become the world’s most valuable company

[ad_1]

Microsoft passed Apple in market cap on Friday, making it the world’s most valuable publicly traded company, after Apple missed earnings expectations on Thursday.

Microsoft had a market cap of nearly $2.49 trillion at market close, while Apple’s stood at about $2.46 trillion.

Apple reported on Thursday that revenue missed Wall Street expectations in the company’s fiscal fourth quarter, a result of supply chain constraints. CEO Tim Cook told CNBC’s Josh Lipton the revenue shortfall is estimated at $6 billion, but he expects worse supply chain issues in the December quarter.

Sales of iPhones at the company were up 47% year over year but also fell short of analyst expectations. The company’s fourth quarter only included a few days of iPhone 13 sales.

Microsoft beat revenue expectations in its fiscal first quarter, which climbed about 22% year over year. That was the fastest growth since 2018, CNBC previously reported.

Apple was the first company to reach a $1 trillion and $2 trillion market cap. It became the world’s most valuable publicly traded company when it surpassed state oil giant Saudi Aramco in market cap last year.

Microsoft last topped Apple in market cap in 2020 as the coronavirus pandemic wreaked havoc on supply chains. It first closed above a $2 trillion market cap in June after revealing the first major update to Windows in more than five years.

At market close, Microsoft’s stock was up more than 48% year to date, while Apple’s had risen almost 13%.

This news is developing. Please check back for updates.

[ad_2]

Source link

  • Related Posts

    How to Keep Your Pool Clean and Safe with Professional Swimming Pool Maintenance in Dubai

    Owning a swimming pool in Dubai can be a luxury, but it also comes with responsibilities. A clean and safe pool ensures a healthy and enjoyable experience for you and…

    How SV Ambulance Service Ensures Fast and Reliable Emergency Transport in Panchkula and Mohali

    When an emergency strikes, having access to quick and dependable ambulance services can save lives. SV Ambulance Service is dedicated to providing top-notch care with advanced technology and skilled professionals,…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Buy GoPotent Çmimi – Përdorimi Dhe Efekte Anësore 2025 Cijena, Gdje kupiti, Sastav, Način uzimanja, Forum, Recenzije

    JAVA BURN – ((❌ WARNING! ❌)) – JAVA BURN REVIEW – JAVA BURN WEIGHT LOSS REVIEWS – JAVA BURN COFFEE ✓Official Website:

    Cardiotensive HU – normális vérnyomás az első használattól kezdve

    Cardiotensive HU – normális vérnyomás az első használattól kezdve

    Matcha Suri Green Tea Supplements || Buy Matcha Green Tea Near Me

    Cheap Nursery Near Me Dubai – Budget-Friendly Yet High-Quality Education for Kids

    Why Every Business Needs a Digital Marketing Agency in Dubai