Microsoft’s current market cap has overtaken Apple’s, after living for nearly a decade in the shadow of the Cupertino company.
At the time of writing Microsoft’s intra-day Market Cap is now 751.88B, higher than competing company Apple Inc. which is now 749.75B, by more than 2 billion dollars.
Amazon (currently 741.90B) and Apple were dubbed the world’s most valuable tech companies by Market Cap earlier this year as they crossed the $1 trillion mark. With Microsoft now overshadowing all three, including Alphabet Inc, the firm now looks to be the most valuable tech company…
Investors are concerned about slowing revenue growth at the so-called FANG companies (Facebook, Apple, Netflix and Google), a club of high flyers Microsoft has traditionally been excluded from.
Now they are betting company spending on cloud services and software will remain strong as companies strive to increase efficiency and productivity, while Facebook and Google are increasingly coming under scrutiny for their consumer data practices.
Microsoft’s cloud segment, in particular, is expected to do well, with Office 365 the lead programs in the market for cloud-based productivity tools, while Azure services for storing data and running apps in the cloud is in a solid second position to Amazon’s AWS. Microsoft is also increasingly relying on a steady subscription business which is less subject to volatility.
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