NEW YORK: Surge in Microsoft Corp shares is almost not included Apple Inc.
as the most valuable company in the world on Wednesday, the day before the iPhone maker reported quarterly results.
Driven by a strong quarterly growth in the Azure Cloud computing business, Microsoft shares jumped 4.2% to end a record of $ 323.17, increasing the market capitalization of software makers to $ 2.426 trillion, only lacking Apple’s assessment of $ 2.461 trillion, according to Refinitiv data.
Apple shares fell 0.3% before the report because after the bell on Thursday, with investors focused on how the global supply chain crisis challenged the company’s ability to meet the demand for its iPhone.
Microsoft Stock has strengthened 45% this year, with demand for pandemic caused by cloud-based services.
Apple shares have risen 12% in 2021.
Apple’s stock market value overtook Microsoft in 2010 because the iPhone made it the world’s main consumer technology company.
The two companies have turned around as the most valuable Wall Street company in recent years, with Apple holding a degree since mid 2020.
In its report on Tuesday, Microsoft estimates a strong end for the calendar year thanks to the clout business, but he warns that the supply chain woes will warn Continue to key dog units, such as producing surface laptops and Xbox game consoles.
The average analyst expects Apple to report September quarter revenues up 31% to $ 84.8 billion and income per share adjustment of $ 1.24, according to refinitiv.
Microsoft almost embroidered Apple as the most valuable company
