Microsoft has unseated Apple to rank as the world’s most valuable listed company, reclaiming the number one spot after more than 15 years.
The software giant ended Friday with a market value of more than $851bn (£668bn) compared with Apple’s $847bn.
The two firms have been vying for top place all week, with Apple remaining ahead at the end of each trading day.
But the iPhone maker, which has seen its share price plunge in recent weeks, finally lost its lead.
On Friday, Microsoft shares gained more than 0.6% to close at $110.89, while Apple shares finished at $178.60, down about 0.5%.
Apple’s shares have fallen almost 25% since October – more steeply than the market overall – amid concerns about slowing smart phone demand and the possibility of additional US tariffs on Chinese-made goods.
The sell-off has erased more than $200bn from the firm’s market value, which is calculated by multiplying the share price by the number of traded shares cited in the firms’ most recent quarterly reports.
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