Microsoft and Apple have been frequently swapping the top spot for years. Microsoft previously surpassed Apple's market cap in 2021, 2020, and 2018, before Apple regained its position. Google also briefly held the top spot in 2016. Microsoft's recent success can be attributed to its focus on AI, with regular announcements of new AI features and changes to its software and services.
Key takeaways:
- Microsoft has once again surpassed Apple to become the world's most valuable public company, largely due to its recent AI announcements.
- Apple's stock has been decreasing due to concerns over iPhone sales in China and potential weakness of iPhone 15 sales, causing a loss of around $162 billion in market capitalization in 2024 alone.
- Microsoft's stock has been on the rise for over six months, particularly after announcing a steep price on Copilot for Microsoft 365, its AI-powered future of Office documents.
- Microsoft and Apple have been trading places for the title of most valuable public company for years, with Google also briefly taking over Apple's market cap in 2016.