According to the latest report, Windows OS maker Microsoft has become the most valuable public company after surpassing Apple’s. The market capitalization of Microsoft stood at $2.49 trillion, while the Cupertino giant came close at $2.48 trillion.
Apple’s shares hit $149.80 after a 1.8% dip when the market closed on Friday. Microsoft’s share price witnessed a 2.2% increase to reach $331.62. Apple reported a $6 billion loss in the fourth quarter due to supply chain woes and expects the situation to get severe in the December quarter.
“We had a very strong performance despite larger than expected supply constraints, which we estimate to be around $6 billion. The supply constraints were driven by the industry wide chip shortages that have been talked about a lot, and COVID-related manufacturing disruptions in Southeast Asia,” Apple CEO Tim Cook told CNBC.
Alos, the huge impact for Microsoft is driven by Windows, office and its services. The Redmond giant reported a $45.3 billion revenue, a net income of $20.5 billion, and an operating income of $20.2 billion.
(Via)