Microsoft surpasses Apple to become world’s most valuable company
Photo: Microsoft has become the most valuable company in the world, surpassing Apple (GettyImages)
Microsoft's stock market shares have risen, and the company's market capitalization has reached $2.887 trillion, marking the highest figure in its history, according to Reuters.
On Friday, Microsoft's stock finished the trading session higher than Apple's for the first time since 2021, making it the world's most valuable company. Apple, the iPhone manufacturer, rose by 0.2%, while the technology corporation gained 1%.
Microsoft's market capitalization reached $2.887 trillion, marking its highest figure in history, compared to Apple's $2.875 trillion.
Concerns about smartphone demand have led to a 3% decline in Apple's shares in 2024, following a 48% increase in the previous year. The company is grappling with low demand, including for the iPhone.
Meanwhile, Microsoft has grown by approximately 3% since the beginning of the year, following a 57% increase in 2023, partly driven by its leadership in generative artificial intelligence, including investments in the developer ChatGPT by OpenAI.
Apple and Microsoft's Work on AI
Apple plans to develop built-in artificial intelligence features for its entire range of devices. The American company plans to spend around 1 billion dollars.
Microsoft President Brad Smith stated that the world will have to address issues related to deepfakes created using artificial intelligence.
"We will need to pay attention, in particular, to the fact that most foreign cyber influence operations are a concern, activities that are already being carried out by the governments of Russia, China, and Iran," said Smith.
