For a brief period today, Microsoft achieved greater market value than Apple, which is often called the world’s most valuable company. The temporary shift recalls a long, up-and-down history of a rivalry between the two companies—though they are partners in many areas today.
Microsoft reached a market capitalization of close to $813 billion today, with Apple falling only about a billion behind. Apple has fallen a long way since earlier this year, and Microsoft has also seen declines along with many other tech companies, but Microsoft’s struggles have not been as pronounced, at least in terms of investor confidence.
The last time Microsoft secured this lead was in 2010. Earlier this year, Apple became the world’s first company to achieve a $1 trillion market cap. Amazon followed shortly after. Microsoft has still not reached that milestone, and all three are below it now following a trying period for tech stocks.