Microsoft has overtaken Apple as the most valuable company in the world. The Redmond-based company’s shares have reached a market capitalization of $2.888 billion, thanks to the leadership it has achieved in the race for generative artificial intelligence. It is the first time since 2021 that Apple’s valuation, which fell to 2.87 billion, is lower than Microsoft’s. The Cupertino company’s shares have fallen more than 3% since the beginning of January, while those of the group founded by Bill Gates have risen around 2%.
Apple’s weakness follows a series of rating downgrades fueled by concerns that iPhone sales remain weak, especially in China. Apple shares, whose market capitalization peaked at $3.081 trillion on December 14, ended 2023 with a 48% gain versus the +57% recorded by Microsoft, which aggressively launched genAI-based tools thanks to its connection with ChatGPT maker OpenAI. Microsoft had previously briefly overtaken Apple as the most valuable company on a few occasions since 2018. The last time was in 2021, when concerns about supply chain shortages caused by Covid sank the video maker iPhone’s share price.
Source: IL Tempo
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
