After nearly 16 years, Microsoft has topped Apple as the world’s most valuable publicly traded company on Friday.
Apple struggled to reverse a downturn that drove the tech giant into a recent bear market. Microsoft stock has since tripled and increased by 7 per cent in November alone.
Apple’s market capitalization is now about $847 billion, compared to Microsoft’s $851 billion, according to the Associated Press.
Amazon ranked third with earnings of only crossed the trillion-dollar threshold during intra-day trading five weeks later, but never closed above the benchmark, has since dropped back, closing on Friday with a market capitalisation of $826 billion.
Apple was officially dethroned from the title when it lost after Donald Trump said in recently in an interview that could include tariffs on Apple products imported from China, including iPhones and laptops. Apple’s stock fell 1.5% in after-hours trading, erasing earlier gains from the day.