As reported by Bloomberg, Microsoft today caught up with and surpassed its competitor in terms of market capitalization, hitting a total valuation of $812.93 billion at around 1:05PM EST.
The famous Apple vs Microsoft has always been one of the heated arguments among fans or enthusiasts. Apple was even lauded for being the first USA company to have a $1 trillion valuation just this past August.
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Yet now, that very product is among the challenges facing Apple, with concerns over weak iPhone demand pressuring shares to fall more than 25 percent from record levels.
Microsoft isn't immune to weakness in the technology sector, although it has held up much better, falling about 8 per cent from its own all-time high in October as investors take to its enterprise-oriented business, as well as the success of its cloud-computing division.
Amazon and Google have both been top dog at different times, but yesterday's announcement of a market value for Microsoft of $813bn sees Satya Nadella's reborn company taking the lead for the first time since 2010, before dipping back down under Apple once more. When he took over in 2014, Nadella said he wanted to focus on its subscription-based businesses and the cloud. That would put it below both Amazon.com, now valued about US$770 billion, and Google-parent Alphabet Inc., which has a market cap of about US$730 billion.
Buoyed by a broad rebound in U.S. stocks on Monday, Microsoft jumped 3.11 per cent to US$106.28, pushing its market capitalisation up to a record US$816 billion at mid-day.