Microsoft Rivals Apple as World’s Largest Company
Microsoft vs Apple: It’s been over eight years since Apple’s (AAPL) market capitalization (or valuation) fell below that of its long-time rival, Microsoft (MSFT). It happened briefly on Monday afternoon as the share prices of the two tech giants diverged further than they already had in recent weeks.
Apple’s share price has continued to plummet of late on a substantially lower sales outlook for its flagship products. Meanwhile, Microsoft has remained relatively stable amid ongoing market turbulence. The comparison chart above shows the current price and year-to-date performance on the y-axis. MSFT has risen by over 24%, while AAPL has now returned only a measly 2%.
By the market close on Monday, Apple’s valuation was once again above Microsoft’s, but only marginally. What could this mean for the ongoing rivalry between Apple and Microsoft? It was only in early August when the iPhone maker hit its widely-heralded $1 trillion market cap, and early October when it peaked slightly above $1.1 trillion. Since then, it’s lost nearly $300 billion in market value. At this rate, Microsoft appears poised to take the crown from Apple as the next $1 trillion company.
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Senior Technical Analyst at The Technicals
As a momentum stock trader, Luke focuses mostly on strong market moves. Luke has been trading the markets since the early 2000s, but still gets excited by big movers. Whether a surging large-cap tech company or meteoric penny stock, Luke tracks and trades winners. A technical analysis purist, Luke authors many of our Top Stocks & ETFs reports. Contact Luke