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Microsoft Surpasses Apple as World’s Most Valuable Company

Osama Khalid
Last updated: February 17, 2024 2:54 am
Osama Khalid
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2 Min Read
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  • Microsoft surpassed Apple as the most valuable company on AI strength versus legal and China woes.
  • OpenAI partnership propelled 54% of 2022 NASDAQ growth with projections of continued AI dominance.
  • China tensions and court battles plague Apple, including a single-day $100B market cap drop.

Contents
AI ascendancy: Microsoft’s winning streakApple’s struggles in 2023

Microsoft closed the week outranking Apple as the planet’s highest-valued public company, crossing a market capitalization of $2.89 trillion versus Apple’s $2.87 trillion valuation.

Microsoft’s embracing AI through investments like the $10 billion OpenAI partnership has fueled momentum.

AI ascendancy: Microsoft’s winning streak

Analysts this week responded enthusiastically to Microsoft’s latest AI capabilities showcased at a developer conference, noting encouraging maturity across key products.

The broader AI boom likewise buoyed Microsoft’s 54% NASDAQ growth last year, with projections of continued dominating tech trends in 2024.

Apple’s struggles in 2023

“We’re only scratching the surface of AI,” said analyst Kathleen Brooks, anticipating Microsoft’s role going forward. At the same time, Apple has staggered out the gates in 2023 from legal battles stalling its Apple Watch sales to three ratings downgrades, including a single-day $100 billion market cap wipeout.

Factors plaguing Apple include ongoing China sales declines like a 30% iPhone 15 demand dip annually based on tensions with the government banning officials from using Apple devices. Combined with ascendant rival Huawei, analysts expect Apple’s China struggles to persist, weakening its brand value.

Apple contends brand damage, legal woes, and sales drops, now relinquishing its crown to Microsoft after years of chasing its historic $3 trillion peak.

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