It finally happened: Microsoft has overtaken Apple to become the most valuable U.S. company.
The move has been in development since Apple eclipsed the $1 trillion valuation barrier back in August. Slowly, the company’s market valuation decreased to within striking distance for Microsoft to overtake Apple and it took advantage of the opportunity on Monday, November 26.
Microsoft has now reached a market capitalization of about $812 billion, slightly beating out Apple by $1 billion. Two contributing factors for Apple’s precipitous decline has been fear over slowing iPhones sales and a tough month the stock market experienced in October.
In the time Apple went down, Microsoft managed to steady the ship and is now the most valuable U.S. company. It should enjoy the title, because as Apple showed, that can change quickly.
The last time Microsoft’s market cap matched Apple’s was back in the middle of 2010, right around the time the iPhone and the iPad were taking off. Eight years later, Microsoft managed to find its niche away from smartphones with PC hardware and cloud business to finally catch up and surpass Apple.