As of this writing, the market cap for Microsoft is around $791 billion while Apple is around $817 billion. Microsoft had rallied by more than 3 percent during Monday's official trading session, when the market notched broad gains. For proof, just take a look at the changing fortunes of Apple and Microsoft in relation to their valuations.
According to Business Insider, Microsoft inched ahead of Apple yesterday to become the most valuable company in the us, with a market capitalization of $814 billion. According to a report from The Verge, Microsoft's capitalization reached as high as $812.93 billion, exceeding Apple for the first time by about $330 million, albeit very briefly.
Apple has slid amid growing concerns the company is seeing weak demand for iPhones, by far its biggest product line.
Microsoft, which is led by Satya Nadella and works in cloud-computing and other businesses, has lost a relatively modest 6.7 percent over that period.
Technology shares have been punished in recent months on investor worries about rising interest rates and fallout from the trade conflict between the United States and China.
Amid slowing phone sales, Apple announced recently that it will stop releasing quarterly figures for unit shipments.
Reinventing itself, Microsoft has managed to boost its enterprise and services business, including the Azure cloud operation, while reducing its dependence on Windows. Microsoft shares are down 8% from their September close.
The success prompted many analysts to upgrade their target prices and recommendations on Microsoft stock, providing momentum to the counter.
For years, Apple has ruled as the USA stock with the largest market cap.