Microsoft passes Apple as most valuable company in the world
Jan 16, 2024 - gamesindustry.biz
Microsoft has surpassed Apple as the most profitable company at the end of last Friday's trading session in the US, according to CNBC. This development came after an event in San Francisco where Microsoft discussed artificial intelligence and its impact on GitHub traffic, which the company acquired in 2018 for $7.5 billion. Microsoft's shares rose 3% to $2.89 trillion by the end of the day, while Apple's shares fell by the same percentage, reducing its valuation to $2.87 trillion.
Analysts from investment banking company Piper Sandler expressed optimism about the momentum around Microsoft's mature AI products. AI is a crucial part of Microsoft's overall strategy, and last month, the company faced accusations of using AI to promote indie games.
Key takeaways:
Microsoft overtook Apple as the most profitable company at the end of last Friday's trading session in the US.
This lead came as a result of an event in San Francisco where Microsoft highlighted an increase of traffic on GitHub, which it acquired in 2018 for $7.5 billion.
Microsoft's shares increased 3% to $2.89 trillion by the end of the day, while Apple's dropped by the same amount lowering its valuation to $2.87 trillion.
AI is a core part of Microsoft's overall strategy, and last month, the company was accused of using AI to promote indie games.
