Microsoft has overtaken Apple as the world’s most valuable company.
On a day when tech stocks are recovering from a bummer week last week, Microsoft reached a valuation of $814 billion Monday. As of 1 p.m. its market cap had settled back to $807 billion. Meanwhile, Apple’s market cap was slightly less at $805 billion.
Both companies have seen higher valuations earlier in the year. Microsoft hit a valuation of $887 billion prior to “Red October,” in which many tech stocks suffered. In August Apple became the first company to hold a trillion-dollar valuation (hitting a peak of $1.12 trillion) but has fallen since, especially in October.
— Bloomberg Markets (@markets) November 26, 2018