Microsoft briefly ousts Apple as the most valuable company

Putting Apple's reign in jeopardy, Microsoft successfully surpassed it to grab the top spot of most valuable company, but only for a short time period.

On Monday, tech giant Microsoft briefly overthrew Apple as the most valuable company in the US, with a market share of $812.93 billion, followed by Apple at a market cap of $812.60 billion. However, by the stock market’s close, Apple was able to regain the spot with a market value of over $825 billion.

As per Business Insider, the move was a surprising one as less than two months ago Microsoft’s market value reached at $887 billion, whereas Apple’s reached a peak above $1.12 trillion, marking itself as the first US company with a $1 trillion valuation, but soon lost the status.

Microsoft topples Google to become third largest valuable company

However, Apple’s iPhone demand slowed down too, along with many other factors leading to the drop in market value. Microsoft, on the other hand, proved to be better than other tech names after its first-quarter results showed it continuing to follow through on the vision of CEO Satya Nadella, who was appointed back in 2014.

Since his time, Nadella has made several advancements in Microsoft’s cloud computing technology and artificial intelligence. He focused new emerging technologies from old software and hardware business.

Earlier this year, Microsoft surpassed Google in market cap value, and then passed Amazon last month as well. With a diverse business of Windows, Xbox, and Surface, they all combined make up only 36% of Microsoft’s total revenue as compared to Google’s 86% revenue generated from ads.

Furthermore, Bloomberg reports, Microsoft’s market cap previously matched Apple’s last in 2010, eight years ago. At that time, The New York Times described the moment as ‘the end of an era and the beginning of the next one’.