It is not new information that Apple has been struggling in the season that would generally be considered its most popular and successful season. The cuts to production and ambiguous statements/announcements has led to a slide in Apple’s stock as it declined around 0.5% last Friday before the stocks closed, leading to an opening for Microsoft to overtake them.
Sources have reported that Microsoft and Apple were fluctuating for days in a battle for the top spot as USA’s most valuable company. However, Microsoft landed at the top when the stock’s closed on Friday evening, their market capitalisation coming in at $851.2 billion, compared to Apple’s at $847.4 billion. It was only back in 2010 when Apple overtook Microsoft for the first time in the stock market, when Microsoft were struggling to compete with the new growing demand for smartphones.
This news follows Apple’s most recent announcement about no longer releasing hardware sales numbers to the public, which is most likely what caused Apple’s stock to slide, alongside struggling sales on their newest iPhone models. Ever since the CEO of Microsoft, Satya Nadella, become the CEO back in 2014 the company has propelled in success. With Microsoft Azure cloud service becoming a powerhouse and even their surface line hardware recently growing 14%. Nadella has helped push Microsoft in a new direction; retooling Office Apps, catering for people who prefer to use software as an internet service, and creating a competitive entry against online suppliers such as Google.
The title of the most valuable U.S. company may only be temporary for Microsoft, as there isn’t much between the two companies as we speak. But for the time being, Microsoft is providing Apple with an extremely strong fight for the top spot, so don’t expect this to be the last you hear on the matter.