Apple gives up its crown as the world’s most valuable company for the FIRST TIME since 2013 as Microsoft briefly overtakes it
- Microsoft hit an overall market capitalization of £636.21 billion ($812.9bn)
- The tech company came just ahead of Apple at £636.97 billion ($812.6 bn)
- Apple has been under pressure when it reported disappointing iPhone sales
- Within hours, Apple was back to the top spot, about $7 billion above Microsoft’s
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Microsoft briefly overtook Apple on Monday as the world’s most valuable company by market capitalisation before slipping back into second place.
Microsoft hit an overall market capitalisation of $812.9 billion (£636.21bn), just ahead of Apple’s $812.6 billion (£636.97 bn).
However, Microsoft’s surge to the top spot was short-lived as Apple’s market value regained its number one ranking closing at $828.64 billion (£650.13 bn) at 4:05 pm.
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Microsoft briefly overtook Apple on Monday as the world’s most valuable company by market capitalisation before slipping back into second place. Microsoft hit an overall market capitalisation of $812.9 bn, just ahead of Apple’s £636.97 billion (stock image)
The figure was about $7 billion (£5.4bn) above Microsoft’s, which stood at $822.90 billion (£645.62 bn).
Apple shares have dropped sharply over the past few weeks after the firm’s November earnings announcements, when it reported strong profits but disappointing sales.
The company has been under pressure after a disappointing outlook for the holiday season, which is likely to miss Wall Street expectations.
It has been reported that the tech giant has cut production of its latest iPhone models by a third causing turmoil among suppliers.
It was also the first time since 2013 that any company topped it, ever since Apple eclipsed Exxon Mobil Corp. in size, according to an analysis of Bloomberg data.
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Apple shares have dropped sharply over the past few weeks after it reported strong profits but disappointing sales. The company has been under pressure after a disappointing outlook for the key holiday period forcing the firm to cut production of its latest iPhone models
The Nasdaq has fallen more than 12 per cent since the end of September, with high-flying tech names experiencing big drops.
Just last month, Amazon and Google parent Alphabet were also ahead of Microsoft in market capitalisation.
Apple has fallen about 23 per cent since the end of the third quarter.
Microsoft, which is led by Satya Nadella and works in cloud-computing and other businesses, has lost a relatively modest 6.7 per cent over that period.
WHAT FEATURES ARE INCLUDED IN THE NEW MICROSOFT OFFICE 365?
Microsoft has started to roll-out a new design to its Outlook and Word apps.
It includes a simplified user interface, and redesigned icons.
New Toolbar: Microsoft has reduced the three-lines of shortcuts previously on-display in the toolbar at the top of Outlook and Word down to a single row.
Updated Icons: The remaining icons have been redesigned from the ground-up to better scale to different display sizes. Microsoft has also increased the contrast to make the icons clearer to those with low visibility.
AI Search: Starting with Outlook, Microsoft will bring an AI-powered search bar to its Office 365 productivity apps. The intelligent search bar will try to anticipate users’ query as soon as they hover over the bar.
Reversible: All of the user interface tweaks rolling out today can be reversed. Microsoft has promised users the option to revert to the previous design with a click.
The latest updates to Outlook arrive less than a month after Microsoft pushed-out a slew of new features to the email client to help it better compete with the likes of Gmail.
Microsoft says it has improved time zone support in Outlook to allow users can now add calendar entries which start in one time zone, but ends in another
Bill Reminders: Outlook automatically trawls your emails and adds any due dates for bill payments included in your messages to the calendar.
Better Location Support: The updated app leverages Bing to populate your appointments with additional information about the venue.
Syncing: Outlook for iOS will now sync any unfinished draft emails between your iPhone, Android smartphone or tablet, and PC devices.
RSVP: Outlook now shows users the complete list of responses from people who have RSVP’d to an event – not only their own.
Better Time Zone Management: Microsoft says it has improved time zone support so that users can now add calendar entries which start in one time zone, but ends in another
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