Last week Microsoft surpassed Apple thereby becoming the world’s most valuable public company. The title was claimed by the Microsoft along with the tying of the bow on the top of the five years of transformation of the company.
The company briefly overtook the market capitalization of the Apple earlier this week in an intraday trading, succeeded in closing at the number one level on Friday.
This was when the stock prices of the Microsoft increased by 0.6 percent thereby handing over the market capitalization to it which is worth $851.2 billion.
However, the stocks of Apple Inc witnessed a downfall of 0.5 percent which led to a decrease in its value where now its current worth is of $847.4 billion.
According to the data that was compiled by Bloomberg, the last time the market capitalization of Microsoft was larger than that of Apple Inc was in 2010.
Ever since there was a boom in the height of the dot-com, Microsoft has been unable to be the most valuable company.
But recently, Microsoft has become a steady bet for the investors. This is because of the growing business of cloud as well as the avoidance of the harsh scrutiny which is aimed at the big technology companies over the last year.
This harsh scrutiny was over the issues of breaches in the privacy as well as the corporate responsibility.
The stock prices of Microsoft have increased almost by 32 percent this year.
Microsoft exited its business of smartphones which was failing and focussed exclusively on the corporate customers by focussing on the technology that served them.
Most of the businesses of Microsoft are not flashy or customer focussed and hence fails to get the limelight and clearly states the reason why people have overlooked the steady increase in the stock prices of the company.
Source: SeattleTimes, CNBC
