Microsoft overtakes Apple to become world’s most valuable company
Brief supremacy only lasts a few hours – before Apple comes back
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Microsoft briefly overtook Apple to become the world’s most valuable company for the first time since 2021.
The US software giant saw its value rise above its rival after a relatively poor start to the year from the iPhone maker, however Apple closed the day ahead.
Microsoft has seen its share price rise by more than 60 per cent over the last year, taking its market cap above $2.8 trillion for the first time in its history.
The company has been buoyed by its involvement with ChatGPT creator OpenAI, whose AI tools have been incorporated into Microsoft’s search engines and keyboards.
Last week, Microsoft announced that it was making a change to the Windows PC keyboard for the first time in 30 years by adding a “Copilot key” to access its AI tools.
The move signals the beginning of the era of the “AI PC”, according to Microsoft executives, who said it would make its introduction in late February.
Last year, Apple became the first company in the world to reach a market cap of $3 trillion, however it has since slipped to below $2.81 trillion.
The iPhone maker’s recent dip has been attributed to falling smartphone demand and a recent US sales ban of the latest Apple Watch range following a patent dispute.
Despite the struggles, Apple was identified as the most efficient tech company when analysing how much profit it generates in relation to its size. A study by Agency Reviews revealed that a profit last year of $99.8 billion for the Cupertino company meant each of its 164,000 employees generated an average profit of $609,000.
Microsoft ranked fourth with a proft-per-employee of $329,000 in 2023.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments