Microsoft surpasses Apple to come on the top World’s Most Valuable Company

According to the latest report, Windows OS maker Microsoft has become the most valuable public company after surpassing Apple’s. The market capitalization of Microsoft stood at $2.49 trillion, while the Cupertino giant came close at $2.48 trillion.

Apple’s shares hit $149.80 after a 1.8% dip when the market closed on Friday. Microsoft’s share price witnessed a 2.2% increase to reach $331.62.  Apple reported a $6 billion loss in the fourth quarter due to supply chain woes and expects the situation to get severe in the December quarter.

“We had a very strong performance despite larger than expected supply constraints, which we estimate to be around $6 billion. The supply constraints were driven by the industry wide chip shortages that have been talked about a lot, and COVID-related manufacturing disruptions in Southeast Asia,” Apple CEO Tim Cook told CNBC.

Alos, the huge impact for Microsoft is driven by Windows, office and its services. The Redmond giant reported a $45.3 billion revenue, a net income of $20.5 billion, and an operating income of $20.2 billion.

Microsoft Surpasses Apple - News

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