logo
Plus   Neg
Share
Email

Microsoft Passes Apple As Most Valuable Company

Microsoft Corp. (MSFT) has unseated Apple Inc. (AAPL) to rank as the world's most valuable listed company.

The software giant ended Friday with a market value of more than $851 billion compared with Apple's $847 billion.

Both companies remain well below the $1 trillion milestone that Apple and Amazon hit earlier this year.

On Friday, Microsoft shares gained more than 0.6% to close at $110.89, while Apple shares finished at $178.58, down about 0.54%.

Apple's shares have fallen almost 25% since October amid concerns about slowing smart phone demand and the possibility of additional US tariffs on Chinese-made goods.

In 2010, Apple overtook Microsoft as the most valuable technology firm.

Separately, the wall street journal reported Apple conducted an investigation in May into possible business misconduct within its supply chain, including possible kickbacks and bribes to employees from suppliers, rattling some of the tech giant's suppliers and employees as they geared up to produce the company's newest devices.

Apple spokesman reportedly said the company found no evidence of bribery or kickbacks, but declined to disclose what prompted the investigation or its findings.

Apple inquired with at least one supplier about possible kickbacks to Apple employees, the report said.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The European Union on Wednesday ordered Alphabet Inc.'s Google to pay an antitrust fine of 1.49 billion euros for abusing its dominant position in the online search advertising intermediation market by preventing competition. This is the third antitrust fine by the EU against Google and it represents 1.29 percent of the tech giant's turnover in 2018. Shares of BMW Group declined around 5 percent in German trading after the auto giant reported Wednesday weak profit in its fiscal year 2018, despite a 0.1 percent growth in Automotive revenues with higher deliveries. Looking ahead for fiscal 2019, the company expects Group profit before tax will be well below the previous year's level. BMW said it is confident of volume growth in Automotive unit. Starbucks Inc. has announced changes to its Starbucks Rewards loyalty program, noting that the revamp will provide its members with more flexibility and choice when they redeem stars at the company's stores. Starting on April 16, all members of the Starbucks Rewards loyalty program will be able to earn and redeem Stars for Rewards immediately after they join the program.
Follow RTT