A few days ago, Microsoft was very close to overtaking Apple as the most valuable company in the world. Well, Microsoft has finally closed the gap and overtaken Apple. It is now the most valuable company around the globe. The event took place on Thursday when the market capitalization of Microsoft increased to $2.875 trillion and that of Apple decreased to $2.871 trillion. This is the first time since 17 November 2021 that Microsoft was valued more than Apple, or had the highest valuation in the world.
Microsoft has been growing rapidly mainly because of the company’s efforts in generative AI (GenAI). It is the exclusive cloud partner for OpenAI, the demand for whose services, such as ChatGPT, is skyrocketing. Microsoft has also launched its own GenAI chatbot, Copilot, which the brand has incorporated in many of its products, such as the Windows OS, the Microsoft 365 productivity suite, and the Edge web browser. Speaking of which, it’s planning to soon introduce Copilot Pro on a subscription basis.
Apple has been shrinking mainly because many analysts have predicted that the demand for iPhones in China might soon decrease as phones from Huawei are getting more popular there amid a patriotic wave. They have also claimed that the iPhone 16 lineup will not offer significant upgrades over the iPhone 15 series. Plus, the sales of Mac and iPad devices have also gone down due to a lack of innovation, increased competition, and macroeconomic factors. This is undoubtedly a hard time for Apple.
