Brief by Shorts91 Newsdesk / 06:28pm on 11 Jan 2024,Thursday Business
Microsoft briefly claimed the title of the world's most valuable company, surpassing Apple, as the latter faced its worst start in years due to demand concerns. Microsoft's market valuation reached $2.888 trillion, driven by an early lead in generative artificial intelligence. Apple's market capitalization fell to $2.887 trillion, the first time since 2021 it dipped below Microsoft's. Apple's stock decline, prompted by iPhone sales worries and Chinese competition, contrasts with Microsoft's rise of 1.8% in January. The competitive landscape and regulatory scrutiny on Apple's services business contribute to its challenges.
