Microsoft has overtaken Apple as the world’s most valuable company. Apple is thus the world’s second most valuable company, followed by the Saudi oil giant Aramco.
Technology today is bigger than oil
Microsoft has a market value of 2.47 trillion dollars against Apple’s 2.42 trillion. Apple’s fall in market value follows after what Wall Street analysts call a “disappointing quarterly result” was announced yesterday, despite solid growth in product categories, but the company has problems with the supply chain.
CEO Tim Cook says that the loss of revenue is estimated at six billion dollars, but he has no quick solution in sight, he expects the problems with the supply chain to grow further in the last quarter.
Apple first over two trillion dollars
The company’s iPhone sales increased by 47 percent compared to the previous year, but it was lower than analysts’ expectations.
Apple was the first company to achieve a market value of one trillion and later two trillion dollars and it climbed to the top of the world when it surpassed the state-owned Saudi oil giant Aramco in market value.
Windows 11 effect
Microsoft exceeded expectations in the first quarter when sales rose by approx. 22 percent compared to the previous year. It was the fastest growth since 2018.
Microsoft most recently surpassed Apple in market value in 2020. The company closed for the first time with a market value of over two trillion dollars in June after revealing the first major update of Windows in more than five years.
AR and AI rivals
The rivalry between Microsoft and Apple is expected to grow in the coming years as both companies invest heavily in AR and AI.
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