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

Editors Pick
NetApp Inc. (NTAP) Wednesday reported a fourth-quarter profit that fell short of Wall Street estimates, as revenues slipped 3 percent. Shares of the company slipped 6% in extended trading session after its first-quarter outlook was also short of current expectations. Sunnyvale, California-based NetApp... The release of $20 bill featuring Harriet Tubman, an American abolitionist and political activist, has been postponed. The redesign of the $20 bill featuring Tubman will no longer be unveiled in 2020, Treasury Secretary Steven Mnuchin said. The government was planning to unveil the redesigned $20... An analyst at Goldman Sachs Inc. has warned that Apple Inc.'s earnings could drop by 29 percent if China were to retaliate in the trade war against the U.S. with a ban on sales of Apple products in that country. The iPhone maker's China business accounted for 17.6 percent of its total sales in the recent second quarter.
Follow RTT