Microsoft, Apple battle to be most valuable United States company

Due to a dip in Apple's stocks as a result of USA president Donald Trump's statements regarding the Cupertino giant, Microsoft briefly overtook Apple to become the most valuable company in the world.

Microsoft's market capitalization has reportedly reached $812 billion, while Apple's market cap was lower by $1 billion.

Just four months after Apple Inc breached the $1 trillion mark, the iPhone maker has all but lost its lead as Wall Street's most valuable company and is on the verge of being replaced by Microsoft Corp.

It's notable nonetheless. It's been eight years since Microsoft was ahead of Apple, having fallen behind in 2010, but it's seen success from an increased focus on cloud and the enterprise. Even though Microsoft isn't immune to struggles in the technology sector, it still held up much better than Apple since it only fell 9 percent compared to Apple's 25 percent, as pointed out by Bloomberg. Lately, however, production orders for new iPhone parts have dropped, cutting into Apple's market value. Shares of Apple rose 1.4 percent, erasing an earlier decline, while Microsoft climbed 3.3 percent.

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According to Rich Ross, a technical analyst at Evercore ISI, Apple's stock "has another 18 per cent downside", which could take the stock to $US140.

Buoyed by a broad rebound in US stocks on Monday, Microsoft jumped 3.11 per cent to $106.28, pushing its market capitalization up to a record $816-billion at mid-day. "It is not bullish when the biggest stock in the world is in "falling knife" mode", he wrote to clients Monday.

Microsoft shares dipped 0.35 percent after-hours to $106.10, putting its market capitalisation also at $814 billion. However, by the stock market's close, Apple was able to regain the spot with a market value of over $825 billion.

  • Darren Santiago