Microsoft now the most valuable company in the world

Business
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  • Microsoft surpasses Apple as the world’s most valuable company due to concerns about iPhone demand
  • Microsoft’s market capitalization reaches $2.887 trillion, a record high
  • Apple’s market capitalization stands at $2.875 trillion, down 3% in 2024
  • Microsoft’s stock is up 3% year to date and 57% in 2023, driven by AI investment in OpenAI
  • Apple faces tepid demand, especially in China, and sales of its Vision Pro headset are not expected to significantly impact earnings
  • Both Microsoft and Apple trade at relatively high price-to-earnings ratios compared to their historical averages
  • Apple forecasts a modest revenue increase for the December quarter, while analysts expect a 16% revenue increase for Microsoft in the coming weeks.