Move over Apple, Microsoft now the world's most valuable company

Apple lost its crown as the world's most valuable public company to Microsoft on Friday, October 29, as the iPhone maker's shares fell about 2%.

"Compared to less hardware focused FAANG peers, Apple is also a lot more exposed to supply chain disruption," said Sophie Lund-Yates, equity analyst at Hargreaves Lansdown. Apple, which has repurchased $421.7 billion worth of shares over the years, had announced a massive $90 billion share buyback in April. As a result, the outstanding stock pool keeps shrinking, and the company ended its fiscal fourth quarter with 16.4 billion shares.

Apple's stock market value overtook Microsoft's in 2010 as the iPhone made it the world's premier consumer technology company. The companies have taken turns as Wall Street's most valuable business in recent years, with Apple holding the title since mid-2020.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Facebook rebrands company name to MetaThe company shifts its focus from social media to virtual and augmented technologies! 😲 Yan naba magiging new ni FEZBUK?
Source: gmanetwork - 🏆 12. / 63 Read more »

Facebook changes its company name to MetaFacebook is changing its company name as it shifts its focus to the 'metaverse' and confronts wide-ranging scrutiny of the real-world harms from its various platforms after a whistleblower leaked hundreds of internal documents. finkd FB or Meta, please weed out fake news purveyors & history revisionists here in the Philippines in time for the presidential elections in 2022. Don't be an accomplice again in electing a despotic/corrupt president thru the spead of fake news. Pls. act on our reports ASAP.
Source: CNN Philippines - 🏆 13. / 63 Read more »

Embattled Facebook changes parent company name to 'Meta'Facebook chief Mark Zuckerberg on Thursday announced the parent company’s name is being changed to “Meta” to represent a future beyond just its troubled soci...
Source: manilabulletin - 🏆 25. / 51 Read more »