Apple’s market capitalisation overtook Microsoft’s in 2010 as Microsoft struggled with slow demand.
Reuters Dec 02,2018 11:58 AM IST
Microsoft Corp’s stock market value closed above Apple Inc’s for the first time in eight years on Friday as the Windows maker benefited from growth in cloud computing while Apple was hit by investor concern about iPhone demand.
Microsoft Logo. Image: Reuters
Shares of Microsoft rose 0.6 percent to end the week at $110.89, putting its market capitalisation at $851.2 billion. Apple shares fell 0.5 percent to $178.58 on the day, adding up to a market value of $847.4 billion.
The two stocks jostled for the top spot over the course of the week, with Microsoft’s stock market value exceeding Apple’s at several points in intra-day trading but not at the close.
