Microsoft challenges Apple as world’s most valuable company
Friday, 12 January 2024
WASHINGTON, Jan 11 (Reuters): A recent dip in Apple's stock over worries about iPhone sales has left the Silicon Valley tech heavyweight in danger of being overtaken by Microsoft as the world's most valuable company.
Fresh worries about smartphone demand have pushed Apple's shares down 4 per cent so far in 2024 after rallying 48 per cent last year. Microsoft is up about 2 per cent year to date after surging 57 per cent in 2023.
Apple dipped 0.4 per cent on Wednesday, while Microsoft added 1.6 per cent, further eroding the iPhone maker's lead. Apple's stock market value is now at $2.866 trillion, compared to Microsoft's $2.837 trillion value.