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

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Microsoft's stock surged 49% this year, with pandemic-induced demand for its cloud-based services driving sales.

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.

 

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