Microsoft’s new reign as the most valuable U.S. company by market capitalization is looking like a short one (just two days) as Apple shares climb today as investors come to grips with the impact of the coronavirus outbreak.
[Shares of Microsoft] slumped 0.7% while Apple Inc. shares rallied [1.78%]. The moves boosted Apple’s market cap to $1.413 trillion from $1.398 trillion at Tuesday’s close, and knocked Microsoft’s market cap down to $1.393 trillion from $1.403 trillion.
Microsoft overtook Apple on Monday, after a 70-session stretch in which Apple was No. 1.
The technology behemoths’ market caps are still well above No. 3 Amazon.com Inc. at $1.081 trillion and Google-parent Alphabet Inc. at $1.039 trillion.
MacDailyNews Take: Why is Microsoft even in existence? Because they knocked off Apple’s Mac half-assedly and peddled it to the undiscerning. The rightful company, the most valuable company, is atop the heap once again.