Surpassing tech giant Apple, software giant Microsoft reclaims its title as the world’s most valuable company, reports the Times of India.
Microsoft has claimed the title of the world’s most valuable company as the week concluded, boasting a market capitalization of $3.235 trillion.
This milestone positions them ahead of Apple, which had long held the top spot, with the iPhone maker's market cap closing on Friday at $3.07 trillion.
Nvidia, which The Information's newsletter reported has a valuation of $2.76 trillion, secures the third position.
The surge in Microsoft's stock price on Thursday fuelled this shift, following the release of robust financial results for the March quarter that surpassed analyst forecasts.
CEO Satya Nadella highlighted the sustained strong demand for the company's cloud services and artificial intelligence (AI) offerings during an investor call.
Throughout the year, Microsoft's shares have consistently outpaced Apple's, signaling growing investor confidence in the tech giant's strategic focus on AI and cloud computing.
Notably, this significant post-earnings stock jump for Microsoft echoes a similar event in October 2015, when the burgeoning Azure cloud business witnessed revenue more than double, propelling shares upward by 10%, according to Investopedia.
Trump tariff pains 'hurting' Apple
While Apple also delivered better-than-expected first-quarter results, buoyed by strong iPhone sales, the company is facing headwinds from newly implemented tariffs under President Donald Trump.
Apple's heavy dependence on imported components has made it especially susceptible to tariff impacts, contributing to an 18% drop in its share price this year, one of the steepest declines among major tech firms.
Furthermore, CEO Tim Cook has indicated that Apple anticipates an additional $900 million in costs this quarter due to the tariffs, unless the current conditions change.
According to Dow Jones Market Data, as reported by NewsMax, Apple's decrease in market value represents the largest for any company at the start of this year. Among the leading tech firms, only Tesla has witnessed a steeper year-to-date decline in its shares, falling by 29%.
Bd-Pratidin English/ AM
