The struggle of two technology giants Microsoft and Apple, competing fiercely in terms of market value, to become the ‘most valuable company in the world’, gave a new winner yesterday. Apple, which has been sitting on this throne for a long time, lost its throne to Bill Gates’ company after losing about 2% of its share value.
Technology giant Apple, which dominates the world with products such as the iPhone, has long been the world’s most valuable publicly traded company. However, this has recently changed. Apple lost its throne to its arch-rival Microsoft yesterday.
Shares of Apple Inc, which is listed on the stock market as AAPL, lost 2% yesterday. Microsoft (MSFT), which is already very close to Apple, is also a long-held hold of the iPhone manufacturer. It took away the title of ‘most valuable company’.
Microsoft snatched the throne that has not been shaken since 2020
Problems in the supply chain cost Apple $6 billion in sales in the fourth quarter of the business year. Shares of the company fell 1.8% to $149.80. Microsoft’s shares, which owes most of its value to Windows, are It was up 2.2% to $331.62. Apple’s final market cap was $2.48 trillion, while Microsoft’s reached $2.49, placing the company at the top.
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Apple’s market cap surpasses Microsoft’s for the first time in 2010 with the introduction of the new iPhone. Since then, the fierce struggle between the two companies has continued with different winners. It was mid-2020 when Apple last won the title of the world’s most valuable company, and the company has successfully held that title ever since.
Source :
https://www.reuters.com/technology/apple-set-hand-crown-worlds-most-valuable-company-microsoft-2021-10-29/?taid=617c713e0f47fc000104a9e5&utm_campaign=trueAnthem:+Trending+Content&utm_medium=utmueAnthem twitter