Microsoft becomes world's most valuable company after Apple rout

Dwayne Harmon
November 29, 2018

Apple obviously was in no mood to lose it again to Microsoft but as its iPhone sales were not as par with the expectation, the tech giant finally met the defeat by slipping one position in the list of the top US-based company. As of 1 p.m. its market cap had settled back to $807 billion.

Microsoft and Apple have been duking it out for years over their computer services and other technological innovations they've produced in the last few decades. Microsoft's current shares are around $106.25, while Apple still outpaces Microsoft in this area at $172.93. That would put it below both Amazon.com Inc., now valued about $773 billion, and Google-parent Alphabet Inc., which has a market cap of about $732 billion. It was also the first time since 2013 that any company topped it, ever since Apple eclipsed Exxon Mobil in size, according to an analysis of Bloomberg data.

Under CEO Satya Nadella, Microsoft has made a years-long bet on cloud computing. Microsoft hasn't been at the top since the height of the dot-com boom in 2000. According to a report from The Verge, Microsoft's capitalization reached as high as $812.93 billion, exceeding Apple for the first time by about $330 million, albeit very briefly. Shares have fallen more than 25 per cent from record levels.

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Having suffered in the past after losing out to rivals in the era of mobile devices, Microsoft has sought to rebuild itself, with a focus on business customers.

Momentum has been on Microsoft's side since September, when it posted some pretty good quarter earnings results due to their success with strong PC sales and its burgeoning cloud services. For proof, just take a look at the changing fortunes of Apple and Microsoft in relation to their valuations.

Technology shares have been punished in recent months as investors worry about rising interest rates and fallout from a trade conflict between the United States and China.

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