By Microsoft Corp. is about to make history in the stock market, surpassing Apple Inc. as the most highly valued U.S. company. Riding the wave of artificial intelligence and cloud computing, Microsoft’s stock has been on a remarkable journey this year. In contrast, Apple’s shares have struggled as their dependence on consumers has weighed them down against their tech-giant competitors.
On Friday, Microsoft’s stock experienced a 1.3% rally in afternoon trading, resulting in a market capitalization of $3.12 trillion. This sets the stage for Microsoft to break the current all-time market-cap high of $3.09 trillion, which was set by Apple on July 31, 2023.
If Microsoft’s stock closes up by at least 0.4%, or any price above $415.84, it will surpass Apple’s record market cap. This achievement would make Microsoft the first U.S. company with a market cap above $3.1 trillion, happening just two weeks after surpassing $3 trillion for the first time.
In comparison, Apple’s stock rose 0.5% on Friday, leading to a market cap of $2.92 trillion. Microsoft’s stock has seen an impressive rally of 11.6% year to date, while Apple shares have experienced a 1.8% decline. Furthermore, the tech-heavy Nasdaq 100 Index has gained 6.7% this year, and the Dow Jones Industrial Average has grown by 2.6%.
Learn more about Microsoft’s bullish earnings report and Apple’s disappointing results here.
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