Microsoft and Apple are duking it out.
For a few minutes on Monday, Microsoft beat Apple to become the world’s most valuable publicly traded company. At 1:05 p.m. ET, Apple’s $812.60 billion market value fell below Microsoft’s $812.93 billion, allowing the Redmond, Washington-based tech giant to snatch the world’s most valuable company title from Cupertino.
According to Bloomberg, “the last time Microsoft was bigger than Apple based on market cap was in mid-2010.”
Back in August, Apple made history when it became the first ever $1 trillion company. However, Apple’s time at the trillion-dollar mark was short-lived. Apple stock has been on a downward slide since November after weaker-than-expected demand for the company’s latest line of iPhones and a concerning quarterly earnings call in which Apple announced they will no longer disclose iPhone, iPad, and Mac unit sales numbers.