Tech giants have changed the podiums for the highest market capitalization.
Microsoft acquired the throne from Apple.
On Friday, Microsoft overtook Apple for the world’s highest market capitalization in a listed company, according to CNBC.
The two tech giants were both in a gun battle this week. Apple missed expectations, while Microsoft beat analyst estimates.
The next day, the shares of the two companies went in different directions on the American Stock Exchange. Microsoft shares rose 2.24 percent and Apple 1.82 percent.
Read also
Apple shares fell sharply after profits fell
At the time of closing, Microsoft indicated a market value of $2.490 billion, while Apple’s was $2.460 billion, he wrote. CNBC.
Apple surpassed $2,000 billion in market value in August 2020, shortly after the company regained the throne as the world’s most valuable company from Saudi Aramco.
Read also
Tesla has exceeded $1,000 billion in market capitalization
The two companies have scrambled to the top multiple times, with Microsoft overtaking Apple in both 2010 and 2018, and most recently during the pandemic in 2020, according to financial times.
Microsoft is one year behind its competitor in reaching $2000 billion, becoming No. 2 in the world.
So far this year, Microsoft shares are up 49.1 percent, and for Apple, theirs are up 12.9 percent.
Read also
Best month of the year on Wall Street
“Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff.”
