Apple Overtakes Microsoft, Becomes the Most Valuable Company in the World
Apple has once again become the most valuable company in the world after managing to overtake its long-time rival Microsoft on Wednesday.
As reported by CNBC, Apple ended the trading day with a market capitalization of $821.59 billion, whereas Microsoft dropped to the second place with $813.48 billion.
Amazon, which is often considered the next company to be worth $1 trillion, continues to be the number three in the charts with a market value of $805.70 billion.
Last week, Apple briefly took over the leading spot after its market valuation reached $806.6 billion, only $200 million higher than Microsoft’s. However, the Redmond-based software giant reclaimed the leading spot at the end of the trading day.
But as it turns out, Apple is returning to growth, and this is seen by analysts as an indication that Cupertino is recovering after a steep decline in the last few months.
The drop was mostly caused by the poor demand for products that were originally expected to help increase the market value of the company, including the 2018 iPhone generation. The high prices of the smartphones, with the iPhone XS Max, for instance, reaching $1,449 in the United States, significantly affected sales.
This forced Apple to turn to a series of emergency measures, including lowered product, with the market cap also falling dramatically. Just last year, Apple became the first company to reach $1 trillion valuation.
Microsoft and Amazon, on the other hand, are estimated to be the next two brands to go beyond this threshold, though by the looks of things, Apple is back to growth as well. Analysts previously projected Microsoft and Amazon would be worth more than $1 trillion by the end of 2020 or 2021 the latest.
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