For the first time in over two years, Apple is no longer the world’s most valuable public company. On Friday, Microsoft narrowly surpassed Apple and can now claim that title.
According to data compiled by Bloomberg, Microsoft closed Friday with a market capitalization of $2. 89 trillion. Apple, meanwhile, closed the day with a $2. 87 trillion market.
Apple won the crown of the world’s most valuable public company for the first time in 2011, dethroning Exxon Mobil. It has kept the name for most of the last decade. This is the first time since October 2021 that Microsoft has closed with a market cap. higher than Apple’s.
Apple’s stock is off to a slow start in 2024, with several analysts expressing concerns about slowing demand for smartphones. Thus, in 2024, Microsoft shares rose by 3. 3%, while Apple’s fell by 3. 4%.
Apple is expected to report its first quarter of 2024 on Feb. 1, covering the holiday grocery shopping season. The earnings come a day ahead of schedule for Apple Vision Pro in the U. S. U. S.
Here’s a headline from one month ago, on December 13, 2023: “AAPL stock closes at new record high after adding $1 trillion to market cap this year.”
I Apple will be fine. You heard it here the first time.
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