Microsoft Passes Apple To Become The Most Valuable Company In The World
Apple is no longer the most valuable company in the world.
That honour now belongs to Microsoft who surpassed Apple’s valuation during the week with a market cap of $851 billion.
The figure though remains well below the $1 trillion milestone that Apple and Amazon hit earlier this year.
Earlier in the year, Apple. became the first company to reach the $1 billion valuation mark, but the company’s valuation has dropped after drop in demand for its new iPhones which consumers feel are too pricey.
Microsoft on the other hand are thriving after its bet on cloud computing seem to be paying off. Microsoft, one of only two dominant players in the space also had it first $100 billion sales year in its history.
Apple stock on the other has plunged amidst fears that the company was not selling enough units of its new iPhone.