Microsoft decrowns Apple as the world’s most valuable public company
- Microsoft briefly became the world's most valuable public company today.
- A string of negative events have weighted on Apple stock year-to-date.
- MSFT is receiving all the love on the back of its continued investments in AI.
All eyes are on Microsoft Corp (NASDAQ: MSFT) today after it briefly beat Apple Inc (NASDAQ: AAPL) to become the world’s most valuable publicly-traded company.
Apple has not started the new year on a strong note
Copy link to sectionApple is struggling to grab on to its crown amidst a string of recent events that have weighed on its stock.
These include the U.S. Justice Department that was reported building an antitrust case against the tech behemoth on January 5th. Foxconn – a Chinese assembler of its iPhones last week reported an annualised decline in revenue as well.
Apple stock has been rather dull also because Barclays downgraded it to “underweight” at the start of this year (find out more). The firm’s $160 price target suggests about a 13% downside from here.
Analysts at Piper Sandler downgraded $AAPL to “neutral” as well just days later.
Microsoft is flying high on its commitment to AI
Copy link to sectionOn the flip side, Microsoft seems to be receiving all the love lately on the back of its continued investments in artificial intelligence that go well beyond OpenAI.
The tech titan recently said that device makers plan on introducing a Copilot key on personal computers for instant access to its AI assistant.
In November, the Nasdaq-listed firm even announced an artificial intelligence chip that will go up against the most in demand Nvidia GPUs as Invezz reported here.
$MSFT is expected to report its financial results for the second quarter on January 23rd. Consensus is for it to earn $2.75 a share versus $2.32 per share a year ago.
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