Microsoft dethrones Apple and becomes the most valuable company in the world
19:50
Following the opening of Friday's US session, Apple shares continued to decline amid disappointing quarterly results. The producer of the iPhone lost the title of the most valuable listed company in the world to another technology giant from the USA, Microsoft.
The shares of the Cupertino giant fell by 3.6 percent. to $147, which means that the company's market capitalization was $2.41 trillion. Microsoft's shares went up by 0.7 percent to $326.8, giving the software vendor a valuation of $2.46 trillion.
Apple held the title of the world's most valuable publicly-traded company since July 2020, when it overtook the oil giant Saudi Aramco in terms of market capitalization.
Microsoft's shares have increased by more than 45 percent since the beginning of this year, due to the high demand for cloud services, and in the case of Apple's shares, the growth dynamics was much slower (+15 percent).
