Microsoft briefly tops Apple as most valuable company

Microsoft briefly tops Apple as most valuable company

Microsoft briefly tops Apple as most valuable company

Currently, Apple has a market cap of almost $829 billion, meaning it has shed about $270 billion in value after cresting at a record $1.1 trillion valuation in early October.

Apple Inc. gave up its crown as the world's most valuable publicly traded company, at least for a few minutes Monday, Bloomberg reported. Microsoft dominated in the dot-com era but subsequently lost ground as the Apple launched such iconic products as the iPod and especially the iPhone.

Microsoft shares rose more than 3 percent as US markets and large cap tech stocks shook off recent losses. As of Tuesday morning, Apple's market cap stands at $821 billion, while Microsoft is worth $816 billion.

Microsoft briefly overtook Apple on Monday as the world's most valuable company by market capitalization before slipping back into second place. It was also the first time since 2013 that any company topped it, ever since Apple eclipsed Exxon Mobil in size, according to an analysis of Bloomberg data.

Apple has slid amid growing concerns that the company is seeing weak demand for iPhones, by far its biggest product line.

The famous Apple vs Microsoft has always been one of the heated arguments among fans or enthusiasts.

Microsoft has managed to hold up better than other high-flying tech names after its first-quarter results showed that it continues to follow through on the vision of CEO Satya Nadella, who when he took over in 2014 said he wanted to focus on its subscription-based businesses and the cloud. Shares of Apple rose 0.9 percent, erasing an earlier decline, while Microsoft climbed 3.2 percent.

It isnt to say that Microsoft hasnt faced any challenges lately, but Apple has been just been barely able to get by with investors. While MSFT began to see a pick up in market cap again in the early 2010s, it couldn't keep up with Apple.

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