(Bloomberg) – The fall in Apple Inc. shares on Friday prompted Microsoft Corp. to become the largest publicly traded company in terms of market capitalization.
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Apple fell as much as 3.9% to $ 146.65 after reporting fourth-quarter revenue was below the average analyst estimate, giving the iPhone maker a market value of $ 2.41 trillion. . Microsoft rose 1.1% to hit a market value of $ 2.46 trillion, outperforming Apple, after reporting results that beat estimates for the 11th consecutive quarter earlier this week.
The last time Microsoft dethroned Apple was in the first half of 2020, when investors flocked to growth stocks amid the covid-19 pandemic.
In June, Microsoft took its place in the history books as the second publicly traded US company to achieve a market valuation of $ 2 trillion, fueled by bets on its dominance in cloud computing as enterprise software becomes will expand further in a post-coronavirus world. This year, its shares have outperformed Apple and Amazon.com Inc. on long-term growth expectations, both earnings and revenue, and in expansion in areas such as machine learning and cloud computing.
Nota Original:Microsoft Becomes World’s Most Valuable Stock as Apple Slumps
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