Microsoft edges out Apple as world's most valuable company
Microsoft's stock market value ended a trading session higher than Apple's for the first time since 2021 on Friday, making it the world's most valuable company as worries about demand hit the iPhone maker's shares. Apple crept up 0.2% on Friday, while Microsoft added 1%. With that, Microsoft's market capitalization stood at $2.887 trillion, its highest ever, according to LSEG data. Apple's market capitalization was $2.875 trillion, calculated with data in a filing on Thursday. Worries about smartphone demand have pushed Apple's shares down 3% so far in 2024 after rallying 48% last year. Microsoft is up about 3% year to date after surging 57% in 2023 in a rally driven in part by its lead in generative artificial intelligence through an investment in ChatGPT-maker OpenAI. Apple's market capitalization peaked at $3.081 trillion on Dec. 14, according to LSEG. Microsoft has incorporated OpenAI's Technology across its suite of productivity...