Microsoft dethrones Apple as the most valuable United States company

02 December, 2018, 02:10 | Author: Mary Valdez
  • Microsoft tops Apple as world's most valuable company

Apple became the first USA company to surpass a market cap of $1 trillion last August.

Shares of the iPhone maker have dropped sharply over the past several weeks, and the decline has erased about $300 billion in market capitalization from the company, which crested at a record $1.1 trillion valuation in early October. The Cupertino giant had continued to have very strong sales primarily from the iPhone, which makes up 60% of its revenue streams.

The loss wiped out the 1.35 percent gain during the official trading session and put Apple's stock market value at $814 billion.

This makes Microsoft valuation move even more remarkable - marking the first time since 2010 that the company is valued higher than Apple - and could potentially reignite the conversation surrounding one of technology's biggest rivalries.

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Apple has been on a staggering trajectory in the decade since the iPhone was released, and in the process made Microsoft look like a technology company of the past.

Instead, it's likely that Apple's recent struggles with low demand for its latest iPhones are what caused the company's stock - and thus, its market cap - to slide.

It's worth noting that Microsoft's brief reign as the world's most valuable company wasn't necessarily a result of anything it did right. On the other hand, Microsoft shares also slipped by 0.23 percent, bringing the value of the tech giant to the same as Apple.

According to Rich Ross, a technical analyst at Evercore ISI, Apple's stock "has another 18 per cent downside", which could take the stock to $140, its 200-week moving average. That would put it below both Amazon.com, now valued about US$770 billion, and Google-parent Alphabet Inc., which has a market cap of about US$730 billion. Apple's market cap was slightly less.

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