Microsoft is now more valuable than Apple
Microsoft reached a market capitalization value of US$846.76 billion on the NASDAQ today, putting the tech giant a couple of billion dollars ahead of Apple. The two competitors have been playing a stock market version of cat and mouse lately, with Microsoft edging out the iPhone maker on more than one occasion. But Microsoft has now overtaken Apple and put a little bit of distance between the two, at least for the time being.
Apple’s stock price hit a low of US$177.34 for the day’s trading, dropping from the previous day’s close of US$179.55. The company’s stock price decline has been well-documented, with many reasons offered for its cause and continuation. However, the NASDAQ Community Rating for Apple stock is an optimistic “Bullish” – so it seems many involved in the financial industry still expect the tech firm to bounce back at some point.
It is something of a turnaround for Microsoft though. The company was trading stock at a price of barely US$80 just over a year ago, and now it has a current stock price of US$110.31. Microsoft has been busy buying up a considerable number of video-game studios lately, and there are plenty of rumors about increased efforts in the lucrative gaming sector and a whole new generation of Xbox One consoles coming soon, which will certainly help the firm maintain its incredible value.