Microsoft is getting close to becoming the world’s most valuable company.
Apple currently holds the top position with a market cap of $2.89 trillion, but Microsoft is closing in at $2.79 trillion. Even though Apple’s market cap has grown more in the last 30 days, increasing by $68.2 billion compared to Microsoft’s $51.7 billion.
Microsoft has been focusing on advancing in AI and has recently partnered with Siemens to promote the adoption of artificial intelligence across industries. Meanwhile, Apple has experienced a 30% drop in sales in China, their third-largest market, in the first week of 2024.
Although there is still a $100 billion difference in valuation between the two companies, it’s relatively small considering the significant changes in value over the last month.
At first glance, it seems that Apple will maintain its lead over Microsoft for some time. Today (January 9), they are experiencing a 2.42% increase in share price, compared to Microsoft’s 1.89%. This may be due to the announcement on January 8 that Apple’s Vision Pro will be available in stores in February, with pre-orders opening on January 19.
Both companies have seen a decline in share price over the last 30 days, the only two in the top 13 most valuable companies in the world to do so.
There is only one other company in the world with a market cap of over $2 trillion, which is the oil giant, Saudi Aramco.
How do Apple and Microsoft compare to others in the stock market?
Other tech giants like Google ($1.75 trillion), Amazon ($1.54 trillion), and Meta ($921.7 billion) are trailing behind the leading companies in the tech industry in terms of market cap.
Walmart leads in terms of revenue with $638.8 billion, followed closely by Amazon with $554 billion. Apple’s revenue stands at $383.3 billion and Microsoft brings in over $218 billion.
Featured Image: Photo by Matthew Manuel on Unsplash
