Microsoft overtook Apple as the world's most valuable stock in the world

Microsoft Corp. overtook Apple Inc. to become the world's most valuable publicly traded company for the first time in more than two years, as worries over smartphone demand have weighed on the iPhone-maker's stock in recent weeks.

The Washington-based software giant rose 1% last Friday, ending with a market valuation of $2.89 trillion. Meanwhile, Apple gained 0.2% and closed with a market capitalization of $2.87 trillion. It's the first time since November 2021 that Microsoft has closed with a higher value than Apple.
Microsoft Corp’s stock has been rallying in recent months thanks to its AI announcements.

Meanwhile, 2024 hasn't started well for Apple.
The tech giant is caught up in a public legal battle that has blocked US sales of its Apple Watch and suffered three stock downgrades so far in January.

Apple's problems in China are also expected to continue this year, as Chinese government officials are banned from using the California-based company's devices and homegrown rivals like Huawei are gaining ground.

- CyberBeat