Microsoft briefly overtakes Apple as the most expensive public company

Microsoft briefly overtook Apple as the most expensive public company, reports CNBC.

This happened the day before during trading. According to MarketWatch, the price of Microsoft’s shares rose by 0.9% during the event. Eventually, the company’s capitalization reached $2.87 trillion.

Instead, Apple shares lost 1.1% during trading, so the giant’s market value dropped to $2.86 trillion. However, Apple soon returned to the top spot.

These changes come in the wake of recent events surrounding Apple. For example, last week Foxconn, the Chinese iPhone manufacturer, reported a year-on-year drop in revenues.

The New York Times reported that the U.S. Department of Justice is working on an antitrust case against Apple, which may be filed later this year. In addition, Barclays and Piper Sandler downgraded the company’s stock.

Instead, Microsoft recently announced that Copilot will soon have a separate button on Windows keyboards. This includes both Microsoft’s own Surface products and computers from the company’s partners.

This is not the first time that Microsoft has outperformed Apple as the most expensive public company. The last time it happened was in 2021.