Microsoft becomes the world’s most valuable company
On Friday, Microsoft crossed Apple’s market cap and becomes the world’s most valuable public company.
The news follows Apple’s Thursday earnings, where the company posted strong results but revealed that it lost $6 billion to supply chain constraints. On Tuesday, Microsoft also shared positive earnings boosted by Office, Windows, and its cloud products.
Microsoft previously surpassed Apple’s market cap in 2018 for the first time since 2010 and once again in July 2020.
According to CNBC, On Friday’s market close, Microsoft’s market cap was almost $2.49 trillion while Apple’s was about $2.46 trillion.
Apple has been a leader in the markets for some time, being the first US company to hit a $1 trillion market cap in 2018 and, just two years later, becoming the first US company to hit a $2 trillion market cap.