December 2, 2021

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Microsoft has overtaken Apple to become the most valuable company

Microsoft has overtaken Apple to become the most valuable company

Apple sales missed market expectations for the first time since May 2017.

31. Oct 2021 at 15:39 TASR

New York. Microsoft overtook Apple on Friday to become the world’s most valuable publicly traded company.

Apple’s results were released on Thursday after the stock market closed disappointing market expectations, causing its shares to weaken. Microsoft’s market capitalization is currently approximately $2.49 trillion (€2.14 trillion) and Apple’s $2.46 trillion.

Apple’s sales missed market expectations for the first time since May 2017. This is due to supply chain issues. Apple CEO Tim Cook said in an interview with CNBC that the shortfalls in the supply of components caused a loss of revenue of $6 billion. However, he expects bigger problems in the current quarter.

iPhone sales jumped 47 percent year-on-year in the three months from July to September, but analysts expected an even bigger increase. That period covered only a few days, when new products were put on sale Iphone 13.

On the contrary, Microsoft’s sales in the last quarter exceeded market expectations. It’s up 22 percent year over year. This was the largest increase since 2018.

a job Microsoft has improved more than 48 percent since the start of the year and Apple shares about 13 percent.

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