Apple is momentarily surpassed by Microsoft as the most valued public firm.

In early trading on Thursday, Microsoft momentarily dethroned Apple as the most valued publicly listed corporation.

This comes after Apple ran into several challenges at the beginning of the year.

The Chinese company Foxconn, which assembles Apple’s iPhones, said last week that its income had decreased from the previous year. According to The New York Times, the U.S. Department of Justice is reportedly investigating Apple for possible antitrust violations later this year. Additionally, the stock was downgraded by Piper Sandler and Barclays.

Microsoft also announced this week that device manufacturers will soon provide Windows PCs with a Copilot key on their keyboards, allowing users to quickly access the software company’s AI helper.

Microsoft’s stock increased by 57% in 2023, in part because investors began to feel optimistic about the software company’s potential to grow by offering AI services to companies. In the same time frame, Apple’s stock increased by 48%.

Additionally, Microsoft cheated on Apple by taking the title of the most valuable public firm in both 2018 and 2021. However, Apple became the first business to have a market valuation of more than $3 trillion two years ago. Before Apple regained possession of the title, Saudi Aramco, an oil and gas production firm, had it for a short while. It persisted for ninety-six days.

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