In the ranking of the world’s largest companies in market capitalization, the leader was changed – it was the IT-giant Microsoft, indicate the NASDAQ exchange data. The company deprived the status of the most expensive company of its main competitor, Apple whose shares have fallen sharply in price after the publication of financial statements.
The creator of the iPhone maintained leadership for 16 months – from early July 2020. By the time of writing news, Microsoft securities traded at $ 327.27, and market capitalization equals 2.45 trillion dollars. Apple’s shares after falling by 3.6 percent cost $ 147.07 during capitalization of 2.43 trillion dollars. Thus, by now Microsoft overturns Apple in the cost of about $ 20 billion.
According to Apple’s report, the company’s revenue in the fourth quarter of 2021 increased by 29 percent compared to the same period last year and reached a record 83.3 billion dollars. Nevertheless, this result was worse than expected analysts. Investors also conquered the words of Apple that the infringement of supply chains is putting pressure on production indicators.
Microsoft’s net profit, in turn, at the end of the past quarter rose 47.6 percent to $ 20.5 billion. The IT giant reported on the profit on October 26, and since then the company’s shares are continuously significant. On the day of the document release, the cost of securities increased by four percent at once. This year, Microsoft shares rose 50 percent, and Apple’s securities are only 13.6 percent. Microsoft analysts expect even more firm’s success this year due to its rapidly developing cloud business.