In 2024, the interest in artificial intelligence has not waned, with Microsoft taking the lead over Apple due to its AI capabilities. This led to a surge in trading, making Microsoft the most valuable publicly traded company in the world, surpassing Apple.
During a discussion about AI in San Francisco on January 11, Microsoft showcased its Copilot tool, temporarily surpassing Apple in intraday trading. This lead was secured on January 12, with a 3% rise in Microsoft’s shares and a 3% fall in Apple’s shares.
Market Cap Battle
According to CNBC, Microsoft ended the last Friday trading session as the most valuable public company by market capitalization, reaching $2.89 trillion. Meanwhile, Apple saw a 3% decline in shares and ended trading at $2.87 trillion due to the retirement of former VP Al Gore from the board after more than two decades.
Apple’s decline marked the first time in over a year that it was not the most valuable public company. Despite this, Apple’s one-year reign was notable, especially while facing challenges with its App Store.
For Microsoft, this victory is a return to the top after more than a year, and is largely influenced by the significant changes the company underwent in late 2023. These changes impacted the gaming industry, including the development of a mobile storefront for Xbox, the departure of CEO Bobby Kotick, and most notably, the completion of the industry’s largest acquisition with the $69 billion purchase of Activision Blizzard.
