Microsoft passed Apple with a market cap of $2.45 trillion and became the most valuable public company in the world. Apple is now the world’s second most valuable public company.
This happened right after Apple’s earnings call where Apple CEO Tim Cook said Apple lost $6 billion in revenue due to supply chain issues. Apple also generated $83 billion in revenue this quarter which was lower than expected.
The recent earnings call caused Apple stock to go down by 4%. Apple was the first public company ever to hit a $1 trillion market cap and they also hit a $2 trillion market cap the year after. Everything is still going well for Apple since they’re revenue increased in other areas.
Currently, Microsoft’s market cap is sitting at $2.45 trillion and Apple’s market cap is sitting at $2.43 trillion.
