Apple’s name was once included in the world’s most valuable company. Now, Microsoft has taken its place. The beginning of the year 2024 was not that special for Apple. There was a decline in Apple’s shares at the beginning of the year itself.
The craze of iPhone maker Apple is all over the world. But, after the fall in the company’s shares, the company’s capital has also seen a softening. Now, Apple has been replaced by Microsoft, which is based in Redmond, Washington. Microsoft shares rose 1.6 per cent. After this, $2.875 trillion was added to the company’s market valuation.
Microsoft benefited from generative artificial intelligence (AI). This revolution attracted investors towards shares. Now, $2.871 trillion has been added to Microsoft’s market capitalization. This is 0.9 per cent more than Apple’s mcap. For the first time since 2021, Microsoft’s mcap has exceeded Apple’s.
Microsoft Shares
Apple’s stock closed down 3.3 per cent compared to its previous close. At the same time, Microsoft’s shares have increased by 1.8 per cent.
DA Davidson analyst Gil Luria said it is surprising that Microsoft has overtaken Apple. Microsoft’s stock is continuously rising. The company is benefiting from the revolution of generative artificial intelligence.
At the same time, the reason for the decline of Apple’s stock is its weak rating. This is a matter of concern for the company. This will also affect the sales of iPhones. The biggest impact may be in China, the main market for iPhone.
Apple’s mcap as of December 14, 2023, was $3.081 trillion. At that time, Apple was the most valuable company in the world. At the end of 2023, Apple shares closed with a 48 per cent gain.
