Microsoft Briefly Surpassed Apple to Become Most Valuable Company in the US

29 November, 2018, 08:04 | Author: Kevin Carter
  • The Microsoft sign is shown on top of the Microsoft Theater in Los Angeles California US. Reuters File

Microsoft came within $3 billion of surpassing Apple, which has been the U.S.'s most valuable company since 2010, Reuters reported. Apple did climb back ahead by the end of the day with a value around $828.64 billion.

Some other companies that are considered worth the most include Amazon, Google parent company Alphabet, conglomerate Berkshire Hathaway, Facebook, JP Morgan Chase, and Johnson and Johnson.

On the other hand, Microsoft was able to grow in value thanks to its cloud business and strong PC sales. While Apple maintained a healthy lead in size over the past few years, the company's recent swan dive has left it only marginally larger than Microsoft.

Microsoft hit an overall market capitalisation of $812.9 billion yesterday evening on Wall Street - just ahead of Apple's $812.6 billion, according to Bloomberg News.

After peaking in market cap at the highs of the dot.com bubble in 2000, MSFT began a slow drift lower in size before finally putting in a bottom at the lows of the financial crisis.

Yet now, that very product is among the the challenges facing Apple, with concerns over weak iPhone demand pressuring shares to fall more than 25 per cent from record levels.

More news: Cyber Monday tracking for biggest online shopping day in United States history

Yet, in an odd twist of fate for Microsoft, which was sued 20 years ago by the United States for engaging in anticompetitive behavior, regulation is suddenly one of its strengths in the tech industry.

But a turnaround began when the Redmond, Washington, company promoted Nadella as CEO in 2014.

Meanwhile, analysts are also anxious about potential impact on the firm from the US-China trade war, with the Trump administration not ruling out the possibility of tariffs being imposed on Apple's made-in-China products.

Microsoft is now second behind Amazon Web Services in the cloud.

Morgan said Microsoft is outperforming its tech rivals in part because of what it's not.

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