Microsoft passes Apple to become the world’s most valuable company

Microsoft surpassed Apple’s market value on Friday, making it the most valuable publicly traded company in the world, after Apple missed earnings forecasts on Thursday.

As of 10:30 AM ET, Microsoft’s market cap was $2.45 trillion while Apple’s was around $2.41 trillion.

Apple reported lower revenue than Wall Street expected during the company’s fourth quarter on Thursday, as a result of supply chain constraints. CEO Tim Cook told CNBC’s Josh Lipton that the revenue shortfall is estimated at $6 billion, but expects worse supply chain problems in the December quarter.

The company’s iPhone sales rose 47% year over year, but it also fell short of analysts’ expectations. The company’s last quarter included iPhone 13 sales for just a few days.

Microsoft beat revenue expectations for the first quarter of the fiscal year, which jumped about 22% year over year. That was the fastest growth since 2018, CNBC previously reported.

Apple was the first company to reach a market capitalization of $1 trillion and $2 trillion. It became the most highly traded company by value in the world when the state oil giant surpassed Saudi Aramco in market capitalization last year.

Microsoft last surpassed Apple in market capitalization in 2020 as the pandemic wreaked havoc on supply chains. It first closed above a $2 trillion market cap in June after unveiling the first major Windows update in more than five years.

At 10:30 AM ET, Microsoft stock is up about 47% so far, while Apple stock is up about 11%.

This news is developing. . Please check back for updates


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