Microsoft tops Apple as world's most valuable company

AppleWhat Apple’s website looked like in 2010

Apple Inc. gave up its crown as the world's most valuable publicly traded company, at least for a few minutes Monday.

Apple's market valuation of $812.60 billion dipped below Microsoft's $812.93 billion as of 1.05pm in NY, meaning it had shed about $300 billion in value after cresting a record $1.1 trillion valuation in early October. This marks a momentous event for the Bill Gates-founded company, since the last time that it was hailed as more valuable than Tim Cook's business was in 2010, as per Business Insider.

For years, Apple has ruled as the USA stock with the largest market cap.

Apple has slid amid growing concerns the company is seeing weak demand for iPhones, by far its biggest product line.

Microsoft
Microsoft

Apple shares have fallen more than 20 percent since the company reported earnings on November 1.

On the other hand, Microsoft was able to grow in value thanks to its cloud business and strong PC sales. Apple closed at 828.64 billion, while Microsoft sat at $822.90 billion, according to Bloomberg. Considering that not long ago Apple (and Amazon not too long after) broke $1 trillion valuation, it has come a long way down since then, due in part to Apples latest (and most expensive) smartphones (XR, XS, XS Max) not selling as well as anticipated. However, the lead has been shifting back and forth between the two of them.

With that said, even though Microsoft is once again in second place, there's a good chance the tech giant will remain neck-and-neck with Apple for the foreseeable future. That would put it below both Amazon.com, now valued about US$770 billion, and Google-parent Alphabet Inc., which has a market cap of about US$730 billion.

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