Microsoft has caught up to Apple in market valuation

Microsoft has caught up to Apple in market valuation

Currently, Apple has a market cap of almost $829 billion, meaning it has shed about $270 billion in value after cresting at a record $1.1 trillion valuation in early October. Still, Apple was back on top by the stock market's close, with a market value of more than $825 billion.

On Monday, tech giant Microsoft briefly overthrew Apple as the most valuable company in the United States, with a market share of $812.93 billion, followed by Apple at a market cap of $812.60 billion.

Buoyed by a broad rebound in USA 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. The slump ultimately took the company's market cap below that of Microsoft's on Monday, the first time in more than eight years that Microsoft was worth more by this metric. While Microsoft dominated Apple during the 80s and 90s, Steve Jobs finally one-upped Bill Gates with the release of the iPod and then the iPhone in the mid-2000s. It was also the first time since 2013 that any company topped it, ever since Apple eclipsed Exxon Mobil Corp.in size, according to an analysis of Bloomberg data. When he took over in 2014, the executive said he wanted to focus on subscription-based business and the cloud. Shares have fallen more than 25 per cent from record levels. "It is not bullish when the biggest stock in the world is in "falling knife" mode", he wrote to clients on Monday.

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It isnt to say that Microsoft hasnt faced any challenges lately, but Apple has been just been barely able to get by with investors.

Earlier, Apple's stock fell, and both companies' market capitalization were within about $3-billion of each other, putting them at virtually the same value.

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