It's a surprising turn of events as less than two months ago Microsoft's topped out at $887 billion while Apple's reached a peak above $1.12 trillion just one month after becoming the first USA company with a $1 trillion valuation. Microsoft dominated in the dot-com era but subsequently lost ground as the Cupertino, California-based Apple launched such iconic products as the iPod and especially the iPhone, which would grow to become its most important product line.
While Apple quickly regained the title of the world's most valuable company, Microsoft is now nipping at its heels and it begs the question: what would the business world look like if the company had more of a mobile edge? For now though, Microsoft is doing a little better than Apple.
But with all this movement, those top players are snapping at each others heels, and nowhere is this more evident than yesterday, when Microsoft briefly overtook Apple as the biggest tech company by valuation. It was also the first time since 2013 that any company topped it, ever since Apple eclipsed Exxon Mobil Corp.in size, according to an analysis of Bloomberg data.
Yet now, that very product is among the the challenges facing Apple, with concerns over weak iPhone demand pressuring shares to fall 25 percent from record levels.
"Shares in Microsoft opened at $106.27, pushing its market capitalization to $815.75 billion, elbowing past Apple's opening value of $813.88 billion". In August, Apple's market cap rose above the $1 trillion level, becoming the first US stock to reach that level. When he took over in 2014, the executive said he wanted to focus on subscription-based business and the cloud. "It is not bullish when the biggest stock in the world is in "falling knife" mode", he wrote to clients on Monday. While MSFT began to see a pick up in market cap again in the early 2010s, it couldn't keep up with Apple.