Microsoft is now the world’s most valuable company, defeating Apple

Last Friday, 29th October, Microsoft has surpassed Apple to become the most valuable company after the latter company missed their earning expectations last 28th October, Thursday, Apple has reported Wall Street.

Apple has previously taken over Microsoft in 2010 thanks to the revolutionary iPhone, and has taken this position ever since… Until now. The company was also the first to reach $1 and $2 Trillion worth in market capitalization.

Currently, Microsoft’s market cap stands at USD 2.49 trillion, while Apple stands at USD 2.46 trillion and the company lost about 1.8% market share. Apple missed their fourth quarter fiscal revenue due to supply shortage and according to CEO Tim Cook, the company is $6 Billion short and is expecting this supply chain shortage to be worse this December, despite the good iPhone 13 sales within this year.

Microsoft has had a steady rise this year due to its cloud services that power multiple homes and offices as residents stay at home due to the COVID-19 Pandemic, and the company enjoyed a 22% YoY increase in the first fiscal quarter. While Microsoft is enjoying their continuous revenue growth, they have been also worrying for their sales in the hardware market, due to a slow and short supply chain progress. These products include their Surface laptops as well as their home-grown console, the XBOX Series X.

Source: Reuters, CNBC