31 Oct 2021
Microsoft Beats Apple to Become the Most Valuable Company in the U.S
The Index Today
Microsoft Corp. has once again regained its position as the most valuable company in the United States after reaching $2.49 trillion in over a year. This means the company has surpassed its rival Apply Inc. to become the leading tech firm in the nation.
The newly released earnings report for the quarter have pushed up share prices for the technology giant whereas Apple Inc. updated on the upcoming supply chain issues which could hinder product manufacturing. On Friday, Apple Inc. ended its Friday trade with market cap of $2.46 trillion. According to Dow Jones data, the last time Microsoft recorded the biggest cap was back in July 2020.
As the company races to become the most valuable, it reflects on the upcoming race of gaining leadership in the field of cloud space. Microsoft’s market cap peaked at $2 trillion a few month back in June. Both Apple and Microsoft are the only two companies in the U.S which have a market cap of $2 trillion and above.
Both organizations have received much growth during the pandemic as work-from-home became a need especially for home-schooling and corporate jobs. Microsoft is now the second largest player in the cloud-computing market as it acquired a large 20% share.