For the first time in eight years, Apple has dropped down to second position with Microsoft overtaking the iPhone company, to become the most valuable company in the world.
Microsoft has overtaken Apple in market cap value. The company reached a market cap value of $812.93 billion today, followed by Apple at a market cap of $812.60 billion. It made Microsoft the world’s most valuable company, even if it was only a temporary title. Microsoftt and Apple are now trading back and forth for the title.
Apple is passing through a rough phase in the history of its iPhone sale. And for this, the company has warned it may miss Wall Street estimates during the holiday quarter, and the forecast sent the stock price down.
Moreover, Apple weak sales of its new iPhone XS, XS Max and XR, has forced them to go back to iPhone X production. With no doubt, the weak sales of the iPhones has affected their market cap value since iPhone sales make up nearly 60 percent of Apple’s entire revenue.
While Apple is currently struggling, Microsoft is doing well in recent years, especially since the company appointed Satya Nadella as CEO in February 2014. Since Nadella took over the company as its CEO, Microsoft has passed Google earlier this year in market value, and also Amazon in last month.
Although the company might have failed in its windows phone production, but the company has also shown it’s resilient. Microsoft is now focused on cross-platform technologies, the cloud, artificial intelligence, and is aiming to secure the future of quantum computing and mixed reality computing.
However, All of these efforts will face intense competition from Apple, Google, Amazon, Facebook, and other companies, so expect to see a lot of market cap position trading in the years ahead. But for now, Microsoft is the King of the market cap value.