Microsoft Beats Apple Inc to Emerge as Most Valued US Company

Microsoft Beats Apple Inc to Emerge as Most Valued US Company

Microsoft has emerged as the most valuable US company with $753.3 billion in market capitalization, riding past Apple for the first time since 2010 when it came close to this tech giant.
 
Apple, which turn out to be the first $1-trillion US company in August, came down to $746.8 billion on Friday, 23 November, because of lower-than-expected iPhone sales within reports of its suppliers cutting cost and staff.
 
Amazon with $736.6 billion is currently at third and Alphabet (holding company of Google) with $725.5 billion is at the fourth spot.
 
The stockholders are now gambling big on companies with robust Cloud services and software services which are observing an amplified demand from big and small enterprises the world over for their digital triump, at a time when giants like Facebook and Google face strong scrutiny for users' data practices.
 
Equine on its growing Azure Cloud, gaming and Surface laptop portfolio, Microsoft forwarded a revenue of $29.1 billion and net income of $8.8 billion for the first quarter of its 2019 financial results.
 
Revenue was up 19 per cent while net income amplified by 34 per cent. Operating income was $10 billion and improved 29 per cent.
 
"We are off to a great start in fiscal 2019, a result of our innovation and the trust customers are placing in us to power their digital transformation," CEO Satya Nadella said in a statement.



Top