Microsoft Briefly Overtakes Apple as World’s Most Valuable Company
Published on January 12, 2024
Microsoft on Thursday has briefly passed Apple’s market cap as the world’s most valuable public company since 2021. The iPhone maker’s shares made a weak start to the year on growing concerns over smartphone demand and a recent U.S. sales ban on the latest Apple Watch following a patent dispute. Meanwhile, Microsoft’s shares have risen sharply since last year due to its partnership with OpenAI, the creator of generative artificial intelligence interface ChatGPT. Microsoft’s stock closed 0.5 percent higher, giving it a market valuation of $2.859 trillion. It rose as much as 2 percent during the session and the company was briefly worth $2.903 trillion....