Business & Investment

Microsoft has almost overtaken Apple as the most valuable company by Reuters

© Reuters. File Photo: Taken on July 26, 2021, this figure shows the Microsoft logo on your smartphone in front of the Apple logo you see. REUTERS / Dado Ruvic / Illustration / File Photo

(Reuters)-Rapid increase Microsoft Corp The stake in (NASDAQ :) is Apple Inc (NASDAQ :), which almost left as the world’s most valuable company on Wednesday, the day before the iPhone maker reported quarterly results.

According to Refinitiv data, Microsoft’s stake surged 4.2%, ending at a record $ 323.17 and software maker market capitalization rising to $ 2.426 trillion, supported by strong quarterly growth in the Azure cloud computing business. And it was just below Apple’s $ 2.461 trillion valuation.

After the bell on Thursday, Apple’s share price fell 0.3% from the report. Investors have noted how the global supply chain crisis is challenging the company’s ability to meet iPhone demand.

Microsoft’s share price rose 45% this year, and demand for cloud-based services triggered by a pandemic drove sales. Apple’s share rose 12% in 2021.

Apple’s stock market value surpassed Microsoft’s stock market in 2010, making the iPhone one of the world’s leading consumer technology companies. The two companies have recently replaced Wall Street as the most valuable company, and Apple has been holding the title since mid-2020.

In a late Tuesday report, Microsoft predicts a strong end to the calendar year, thanks to its booming cloud business, but supply chain issues are those making Surface laptops and Xbox game consoles. Warned that it would continue to plague major units such as.

On average, analysts expect Apple to report September quarter sales up 31% to $ 84.8 billion and adjusted earnings per share of $ 1.24, according to Refinitiv.

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Microsoft has almost overtaken Apple as the most valuable company by Reuters Microsoft has almost overtaken Apple as the most valuable company by Reuters

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