After more than two years at the top of the world’s most valuable public companies, Apple has fallen to second place. As of Friday, Microsoft has narrowly surpassed Apple as the world’s largest company.
Microsoft ended Friday with a market value of $2.89 trillion. Apple was close behind at $2.87 trillion. This marks the first time since October 2021 that Microsoft’s worth has been greater than Apple’s.
Apple stock has been down lately, dropping 3.4% in 2024 so far. Analysts have voiced concerns about slowing iPhone sales. In contrast, Microsoft shares are up 3.3% this year.
Apple is set to report its latest earnings on February 1st. Investors will be watching closely to see if iPhone demand remains strong during the holiday season. The report comes just before the Apple Vision Pro smartglasses launch on February 2nd.
While this is a blow to Apple fans, there’s no need to panic. One analyst said Apple will be just fine. After all, the tech giants are neck and neck – it could easily flip back to Apple in the top spot soon!
So in summary – for the first time in over two years Microsoft is the most valuable company. But the race between these tech titans is still very close as we head into 2024.
