“A number of news outlets reported over the weekend that Microsoft briefly overtook Apple as the most valuable U.S. company,” Luke Dormehl reports for Cult of Mac. “This followed several weeks of precipitous declines for Apple, which has seen billions of dollars wiped off its market cap.”

“In fact, Apple continues to lead Microsoft with a valuation of $817.6 billion to Microsoft’s $791 billion,” Dormehl reports. “The incorrect reports were caused by confusion about Apple’s number of outstanding shares, used to calculate market cap.”

“It will be interesting to see how things shake out from here,” Dormehl reports. “Last week, Mad Money host Jim Cramer opined that the stock market, “can’t stabilize until Apple stabilizes. My view? Apple is a long-term hold, with its huge installed base giving the company’s service revenue stream a lot of room to grow, which is why you own it [and] don’t trade it.”

Read more in the full article here.

MacDailyNews Take: Currently, Apple’s market cap stands at $816.209 billion. Microsoft is at $808.843 billion. And anyone who thinks Microsoft is worth more than Apple is batshit insane.

SEE ALSO:
Explaining the recent Apple selloff, and why the stock looks undervalued – November 23, 2018
Apple is no longer worth anywhere near one trillion dollars – November 23, 2018
Apple to lower iPhone XR pricing in Japan in order to boost sales – November 23, 2018
Why the bad news on Apple keeps on coming – November 23, 2018
In the darkest hour of Apple’s ‘white-knuckle period,’ some investors are loving it – November 21, 2018