Apple is no longer the most expensive company on the planet in terms of market capitalization. This week, the iPhone maker was overtaken by another IT giant, Microsoft. Despite the recent introduction of new products, Apple has lost its leading position in the ranking of the world's most expensive companies.
The change of the king of the mountain took place on October 29 when Redmond overtook the Cupertino corporation during the stock exchange trading. The latter recorded a drop of almost 2% in its securities.
In particular, Apple shares fell 1.8% to $149.80 at the end of the day. This means that the market capitalization was $2.48 trillion. Meanwhile, Microsoft shares added 2.2%, reaching a record high of $331.62 a piece and a market capitalization of $2.49 trillion.
A number of factors have been cited as reasons for the rise in value of Microsoft shares. According to experts, the main one among them was the record financial performance over the last quarter. However, Windows XP remains the most popular in one country.