Microsoft briefly overtakes Apple as the most valuable company, Apple back on top again
In a significant market development on Thursday, Microsoft briefly surpassed Apple to become the world’s most valuable company for the first time since 2021. Davidson noted, “It was inevitable that Microsoft would overtake Apple since Microsoft is growing faster and has more to benefit from the generative AI revolution.” Microsoft’s substantial share growth is attributed to its early lead in generative artificial intelligence, primarily driven by its investment in OpenAI, the creator of ChatGPT. Apple, which reached a market capitalization peak of $3.081 trillion on Dec. 14, concluded the previous year with a 48 per cent gain, slightly trailing behind Microsoft’s 57 per cent rise. Microsoft has intermittently claimed the lead over Apple as the most valuable company since 2018, with brief instances in 2021 during concerns about COVID-related supply chain shortages impacting Apple’s stock price.
Microsoft shares drop 5%, Meta up 2% after Q1 results, both companies post profit
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