Microsoft is close to overtaking Apple and securing the most valuable US-based tech company position. Apple which was the first ever U.S. company to be valued at $1 trillion, is no longer worth $1 trillion.
Some reports revealed that Apple has lowered production and the demand for the new iPhone XR was lower than expected in Japan. The negative press apparently reduced the market value of Apple by a great extent. In addition, Apple also revealed that starting with Q1 2019, the Cupertino-based tech giant will no longer share how many units are sold.
The people familiar with the matter believe that it is an indication that sales were going to be flat for the foreseeable future.
As Apple’s market value has dropped, Microsoft is close to passing Apple and taking back the crown of the most valuable US company again. On November 23, Microsoft leaped over Apple to become the most valuable company in the world. However, today the stats have changed and Apple is once again the most valued tech giant.
BREAKING: Microsoft just leaped over Apple and became the most valuable company in the world.
— Pomp 🌪 (@APompliano) November 23, 2018
Microsoft has been following its enterprise dream for several years. The company has been investing in cloud products such as Azure and Office 365, and this is helping the software maker.
It is, however, worth noting that Apple could recover its market position and it may once again become most valuable US tech company. At some point, Microsoft is also expected to become one of the next companies worth more than $1 trillion.
While Microsoft is expected to grow, it remains to be seen how much Apple can decline in the coming months.