Microsoft poised to overtake Apple as world’s most valuable company
Microsoft is poised to retake the title of the world’s most valuable company from Apple after a bad start to the new year by the Mac-maker.
Now valued at $2.73 trillion, Microsoft s worth about $100 billion less than Apple, which is valued at $2.83 trillion. Apple hasn’t been worth less than Microsoft since a 14-session stretch that ended Nov. 17, 2021, and the market-cap gap hasn’t been this small since Nov. 22, 2021.
Microsoft’s stock is coming off a slightly stronger year than Apple’s, having risen 57% in 2023 as compared with 48% for Apple. Microsoft shares have also seen slimmer losses to start 2024.
The rally in Microsoft shares comes as enterprise spending has held up, aiding the company’s Azure cloud-computing business. Azure has also benefited from the artificial-intelligence frenzy… Microsoft’s business is levered to AI in other ways…
Apple, meanwhile, has seen its business stagnate in recent quarters as the company deals with heightened competition in China and general macroeconomic pressure that is weighing on consumer spending.
MacDailyNews Take: Apple’s next earnings report and executive commentary will tell the story.
Based on historical earnings dates, Apple is expected to announce earnings between January 26, 2024 and February 02, 2024 (the company has not yet set a date for the release of Q124 results).
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