Microsoft Is Now $3 Trillion Company, Ranking Second After Apple.

Microsoft hits $3 Trillion Company

With its initial breach of the $3 trillion mark on Wednesday, Microsoft’s stock value continues to be the second most valuable in the world, trailing only Apple in that regard.

Since the beginning of the year, Microsoft and Apple shares have been competing to be the most capitalized stock on Wall Street; earlier in January, the software giant briefly overthrew the iPhone manufacturer in this regard.
At $405.63, up 1.7%, Microsoft’s shares set a record and helped the company cross the $3 trillion market capitalization threshold. However, it ultimately closed at $402.56, meaning Microsoft’s valuation was $2.99 trillion, barely above the $3 trillion mark at $403.65.
According to LSEG data, Apple’s shares pared earlier gains and closed down 0.35% at $194.50, giving it a $3 trillion market value.

Microsoft is viewed as a leader in the competition for market supremacy in the implementation of generative artificial intelligence (AI), outpacing other major players in the tech industry such as Alphabet, the parent company of Google,, Oracle, and Meta Platforms, the owner of Facebook, thanks to its investment in ChatGPT developer OpenAI.
Microsoft has released updated versions of its popular productivity software products and its Bing search engine, which is anticipated to more effectively rival Google’s market-dominating search service, using OpenAI’s technology.

However, the market for Apple’s iPhones is waning, especially in China, where the company is boosting sales by providing customers with infrequent discounts in the face of fierce competition from domestic rivals like Huawei Technologies.

Stifel analyst Brad Reback stated, “I think it’s AI optimism for Microsoft,” noting that Apple doesn’t appear to have the same “clear AI story” and raising doubts about the penetration and growth rates of iPhone sales.

According to LSEG data, the 54 analysts that cover Microsoft’s stock have a median price target of $425, up from $415 a month ago, and an average recommendation of “buy.”
Encouraged by hope for AI, Microsoft’s stock increased by almost 57% in 2023 and is now up 7% this year. After rising by 48% the previous year, Apple’s stock has increased by roughly 1% so far this year.
In the upcoming weeks, Wall Street’s ascent to all-time highs will be tested as megacap U.S. technology companies start releasing their earnings.

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