As its large wager on artificial intelligence continued to impress Wall Street, Microsoft became a three trillion dollar company on Wednesday and joined Apple. Microsoft’s shares were up 1.31 percent at $404, making it the second-biggest company in the world by market capitalization, behind Apple. After breaking through the $3 trillion market capitalization barrier for the first time in January 2022, Apple is still only slightly ahead of the competition at $3.02 trillion.
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 MS valuation was $2.99 trillion, barely above the $3 trillion mark at $403.65.
Apple, on the other hand, is facing slowing demand for its iPhones, particularly in China, where the company is offering customers rare discounts to boost sales amid stiff competition from homegrown rivals such as Huawei Technologies.
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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, Amazon.com, Oracle, and Meta Platforms, the owner of Facebook, thanks to its investment in Chat-GPT developer Open-AI.
Conversely, Apple has been struggling with low demand, especially for its flagship product, the iPhone. Demand has decreased in China as the nation’s economy, a sizable market, gradually recovers from the Covid-19 pandemic and a resurgent Huawei eats away at its market share.
In the interim, Apple has struggled with declining demand, especially for its most successful product, the iPhone. Demand has declined as China’s economy, a substantial market, gradually recovers from the pandemic and other phone brands, including Huawei, are eating into its market share. For some reason, MS is ahead of Apple.ย
