Microsoft has once again become the most valuable company in the world. It beat Apple and reclaimed its title. Microsoft and Apple have taken the number 1 and 2 spot for years. Microsoft has been inching its way to the top these past months and was worth $2.89 trillion on Friday, while Apple had a value of $2.87 trillion. Both the tech giants have seen themselves at the top for months together, and their valuations always remain close.
Microsoft has seen an excellent twelve-month period as its shares rallied 62.9 percent. Although Apple has also increased in value in the past year, it had a smaller gain of 39.4 percent. Microsoft has seen a surge after it made heavy investments in artificial intelligence (AI).
On Thursday, Microsoft discussed its artificial intelligence capabilities. Developers were present at the San Francisco event. The event created a positive impact, and analysts upgraded the stock to buy. Microsoft stocks rose by three percent.
On Thursday, Apple announced that Al Gore would retire from the company board in February. The former Vice President of the United States of America was a director at Apple from 2003. Apple shares fell by three percent Thursday. Analysts also downgraded the stock to neutral.
Apple has remained the most valuable company in the world through almost 2023. It saw brief slips to Saudi Aramco and Microsoft but had a long run at the top.
Microsoft and Apple have remained the top two companies in the U.S. and the world. It remains to be seen whether the Cupertino giant will regain its No. 1 position on Monday or if it will spend days, weeks, or months at Number 2.
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