Microsoft unseated Apple as the world’s most valuable company—for a minute

Apple has been dominating as the world’s most valuable company since 2021. Well, Microsoft yesterday unseated Apple as the world’s most valuable company for the first time since 2021. On growing concerns over demand, the iPhone maker’s shares made a weak start to the year.

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Surprisingly, Apple reclaimed its top spot before the closure of yesterday’s market. Notably, the shares of Microsoft have risen sharply since 2023 due to the early lead the company has taken in generative AI through an investment in ChatGPT-maker OpenAI.

“It was inevitable that Microsoft would overtake Apple since Microsoft is growing faster and has more to benefit from the generative AI revolution,” said D.A. Davidson analyst Gil Luria.

Various reports revealed that Microsoft shares rose 57% in 2023, partly as investors became hopeful that the software maker would be able to expand by selling AI services to businesses. At the same time, Apple stock gained 48%, which is less than Microsoft.

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