Microsoft has surpassed Apple’s market capitalization to once again become the world’s most valuable public company. The software giant’s stock has rebounded in recent months thanks to its AI announcements. Meanwhile, there are concerns over Apple’s iPhone sales, leading the two tech giants to trade their top spots for market values during trading on the Nasdaq today.
Apple shares have been on a downward trend over the past month due to concerns over iPhone sales in China and a potential weakness in iPhone 15 sales. Ratings firms have Apple stock downgraded in recent days, wiping approximately $162 billion from Apple’s market capitalization in 2024 alone.
Microsoft has been riding the AI hype train for over six months now. The company’s shares saw a notable rise following the announcement of a high price on Copilot for Microsoft 365, its future of AI-powered Office documents. Since then, barely a week has passed without Microsoft announcing new AI features or changes to its software and services.
Microsoft and Apple have been swapping places for the most valuable public company for years. Microsoft surpassed Apple’s market capitalization in 20212020, and 2018 before Apple regains its place at the top again. Google too briefly took over Apple market capitalization in 2016.
