On the other hand, Apple is facing challenges as its key market, smartphones, is shrinking and it is dealing with legal issues globally. Despite iPhones regaining their position as the top-selling smartphones last year, the overall smartphone market declined by 3.2% after a significant 11.3% drop in 2022. Meanwhile, Microsoft has managed to maintain near-majority ownership of OpenAI's for-profit arm, indicating its commitment to delivering more AI benefits to its users.
Key takeaways:
- Microsoft has overtaken Apple as the 'most valuable' tech company, largely due to its partnership with OpenAI and the rapid integration of AI tools into its software products.
- Apple's most crucial market, smartphones, is shrinking and facing legal challenges globally, with the market shrinking 3.2% last year after an 11.3% decline in 2022.
- Despite the shrinking market, iPhones regained their position as the top-selling smartphones last year.
- Microsoft recently helped resolve a governance and leadership crisis at OpenAI, allowing it to retain near-majority ownership of the for-profit arm of the AI company, indicating its intent to bring more AI features to its users.