Market analysts are expecting that Microsoft will finally overtake Apple as the most valuable company in 2024 after a steady stock value rise for the former and the opposite for the latter.
The two firms were once more within $100 billion of each other recently, the smallest gap the firms had in over two years.
Apple and Microsoft have a long history of competing for the title of the world's most valuable company. However, the title was originally specific to the technology category, Apple Insider reported. Apple overtook Microsoft in 2010 when it hit a market capitalization of $222 billion - and except for a brief period in 2018, when Microsoft regained the top position for a short time, it has dominated the top spot since then.
While the values of the two firms have continually changed, Microsoft - currently valued at $2.73 trillion - is now worth just $100 billion less than Apple (currently at $2.83 trillion), according to MarketWatch.
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Microsoft to Beat Apple's Net Worth
MarketWatch also noted that Microsoft's stock rose by 57% in 2023, compared to Apple's, which only rose to 48%. Microsoft shares have also reportedly seen what were described as slimmer losses at the beginning of 2024.
On the other hand, Apple has seen its shares take a considerable decline in value in recent days. It was initiated by a claim by Barclays that the company was depending on the sales of their iPhones - which has a weakening demand - and that the iPhone 16 range would not offer any compelling new features to entice iPhone users to upgrade their phones.
Apple's dependence on iPhone sales was partially the reason why Microsoft was faring better in the stock market. Analysts also noticed that Microsoft was diversifying away from hardware sales dependence and moving more into subscription software such as Office 365 and its AI tool Copilot.
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