Microsoft Overtakes Apple As World's Most Valuable Company

Apple was 0.3% lower with a market capitalization of $2.887 trillion, the first time since 2021 that its valuation has fallen below that of Microsoft.

Microsoft overtook Apple as the world's most valuable company on Thursday after the iPhone maker began 2024 with its worst start in years due to growing demand concerns.

Shares of Redmond, Washington-based Microsoft rose 1.5%, giving it a market valuation of $2.888 trillion as its early lead in the race to make money from generative artificial intelligence helped draw investors.

Apple was 0.3% lower with a market capitalization of $2.887 trillion - the first time since 2021 that its valuation has fallen below that of Microsoft.