Microsoft Corp.'s new reign as the most valuable U.S. company by market capitalization is in danger to end after just two days, as the stock slumped 0.7% while Apple Inc. shares rallied 1.0%. The moves boosted Apple's market cap to $1.413 trillion from $1.398 trillion at Tuesday's close, and knocked Microsoft's market cap down to $1.393 trillion from $1.403 trillion. Microsoft overtook Apple on Monday, after a 70-session stretch in which Apple was No. 1. The technology behemoths' market caps are still well above No. 3 Amazon.com Inc. at $1.081 trillion and Google-parent Alphabet Inc. at $1.039 trillion. Shares of Apple have rallied 23.3% over the past three months toward a record close Wednesday, while Microsoft has hiked up 24.6% and closed at a record on Monday. In comparison, the Dow Jones Industrial Average was up 206 points, and has gained 6.5% over the past three months, and was on track for a record close on Wednesday. Read More...
Microsoft Corp.’s new reign as the most valuable U.S. company by market capitalization is in danger to end after just two days, as the stock slumped 0.7% while Apple Inc. shares rallied 1.0%. The moves boosted Apple’s market cap to $1.413 trillion from $1.398 trillion at Tuesday’s close, and knocked Microsoft’s market cap down to $1.393 trillion from $1.403 trillion. Microsoft overtook Apple on Monday, after a 70-session stretch in which Apple was No. 1. The technology behemoths’ market caps are still well above No. 3 Amazon.com Inc. at $1.081 trillion and Google-parent Alphabet Inc. at $1.039 trillion. Shares of Apple have rallied 23.3% over the past three months toward a record close Wednesday, while Microsoft has hiked up 24.6% and closed at a record on Monday. In comparison, the Dow Jones Industrial Average was up 206 points, and has gained 6.5% over the past three months, and was on track for a record close on Wednesday.
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