All it took was a $300 billion rout in the market share value for Apple to give up its crown of being the world’s most valuable company to Microsoft, and slip down to the second position – only briefly.
On Monday, Microsoft gained momentum in market capitalisation and touched to a net worth of $812.9 billion – just a little ahead of Apple’s $812.6 billion to become the world’s most valuable company. As per reports stipulated by Bloomberg, this is the first time since 2010 that Microsoft has surpassed Apple in terms of gross market capitalisation. However, the top spot was short-lived as Apple’s market value regained its number one ranking closing at $828.64 billion, and Apple moved $7 billion ahead of the tech giant on Monday.
Regaining the top position on Tuesday, Microsoft shares rose 0.6 percent and pushed its gross market value to $828.1 billion by the end of the day – which was again $1 billion ahead of the California-based company. Apple had reached the topmost mega $1.12 trillion market value point in October, but faced a massive 23 percent tumble down in Apple’s value after the global concerns about iPhone unit sales raised earlier this month.
On the other hand, Microsoft too has seen a 6.7 percent downfall in the third quarter of this financial year, due to the heavy investments made in data centres and other infrastructure to enter the cloud computing market under leadership of CEO Satya Nadella. However, the downfall is still relatively modest because investors tend to punish customer-focused companies like Apple and Amazon more, compared business-oriented companies like Microsoft.