Microsoft has a new title, the world’s most valuable public company. After Apple revealed that it had taken a $6 billion hit due to supply chain constraints, Microsoft soared past Apple with a value of $2.49 trillion. However, Apple is not far behind with a value of $2.46 trillion. Furthermore, Apple could soon retake the lead as the world’s most valuable company. The tech giant holds the distinction as being the first public company to hit a $1 trillion valuation and the first public company to hit a $2 trillion valuation.
Microsoft’s recent boost past Apple is powered by the success of its Office, Windows and cloud products. According to The Verge, the revenue from Office products and cloud services is up 10%. Meanwhile, then number of Microsoft 365 consumer product subscribers is up by nearly 20%. Microsoft is also the force behind popular gaming consoles like Xbox Series X and X Series S. The Verge also reports that hardware sales have risen by 166% this quarter.
BREAKING: Microsoft is officially the most valuable company in the world, overtaking Apple. pic.twitter.com/jzQZjaeBTk
— Morning Brew ?? (@MorningBrew) October 29, 2021
