Connect with us

Tech

Microsoft Beats Apple To Become The World’s Biggest Company

Published

on

Microsoft Beats Apple To Become The World's Biggest Company

(CTN News) – With concerns over weak product demand, Microsoft’s shares surged ahead of Apple’s to claim the top spot as the world’s most valuable company in 2024.

As a result of its early advances in artificial intelligence, valuation reached $2.875 trillion, outpacing Apple for the first time since 2021.

According to the latest data, Microsoft’s shares have risen by 1.6%, reflecting investors’ enthusiasm for the company’s advancements in artificial intelligence.

While Apple experienced a 0.9% decline, its market capitalization is $2.871 trillion. As a result of faster growth and substantial gains from generative AI, this shift has been regarded as a pivotal event in the company’s history.

According to Gil Luria, DA Davidson analyst, Microsoft’s victory is inevitability,

“Microsoft is growing faster and has greater chances of benefitting from the generative AI revolution.” In January, Apple’s stock fell 3.3%, contrasting with 1.8% increase.

Downgrades to Apple’s ratings have raised concerns about the iPhone’s sales outlook, particularly in the crucial Chinese market. Apple’s performance could be hindered by China’s dynamics, Sino-US tensions, and Huawei competition, according to Redburn Atlantic.

Regulatory scrutiny of Apple’s services business, especially the Google search engine deal on iOS, adds to the pressure. Microsoft’s ascendency has been accompanied by Apple’s recent hurdles, despite it ending 2023 with a 48% gain.

On Wall Street, Microsoft’s collaboration with OpenAI for ChatGPT-powered tools has bolstered its foray into generative AI.

As the company has no “sell” ratings and nearly 90% of brokerages recommend a buy, it is evident that the company has a positive outlook. Meanwhile, Apple’s outlook is less optimistic, with two “sell” ratings and only two-thirds of analysts recommending the company.

Despite Apple and trading at relatively high price-to-earnings ratios, Microsoft’s momentum could change the longstanding narrative of tech supremacy.

SEE ALSO:

Many Google Employees Are Looking For Jobs In a Tight Tech Market

Continue Reading

CTN News App

CTN News App

české casino

Recent News

BUY FC 24 COINS

compras monedas fc 24

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies