This week, major technology giants announced their financial results for the past quarter. Both Apple and Microsoft boasted record numbers, but shareholders were more satisfied with the latter. For this reason, Apple has lost its unwavering position as the most valuable technology company today.
Microsoft skipped Apple
Following the announcement of financial results, the price of Microsoft shares shot up, while Apple shares experienced a fall. The market capitalization of the two companies leveled off so quickly, and then Microsoft overtook its rival; at the time of writing, Microsoft was worth $ 2.48 trillion, while Apple had a capitalization of $ 2.46 trillion. It can be assumed that the two companies will be fighting closely for a while on the stock exchange.
–Microsoft Stocks
–Apple stock
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The unexpected development of stock prices was caused by the outlook for both companies for the next quarters. In an interview with investors, Apple admitted that the company’s revenues were about $ 6 billion lower due to supply chain outages and that they expect problems in Cupertino in the coming months. Microsoft, on the other hand, is largely fueling cloud solutions and software sales, industries that are less affected by the semiconductor crisis and can still count on high earnings.
Apple and Microsoft have a relatively significant lead over their competitors in terms of market value, with Alphabet Inc. currently in third place with a significant loss. with $ 1.96 trillion, followed by Amazon with $ 1.7 trillion. Facebook (as of Meta Monday) Wall Street is valued at $ 900 billion.
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