New York: boom Microsoft Corp’s shares remained almost without a seat Apple As of the World Inc. most valuable company a day ago on wednesday iPhone Maker reported its quarterly results.
Shares of Microsoft jumped 4.2% to a record $323.17, according to Refinitiv data, thanks to strong quarterly growth in its Azure cloud-computing business, bringing the software maker’s market capitalization to $2.426 trillion, compared to Apple’s $2.461 trillion. less than the valuation.
Apple shares fell 0.3% after the bell on Thursday, with investors focused on how the global supply-chain crisis is challenging the company’s ability to meet demand for its iPhones.
Microsoft’s stock is up 45% this year, fueled by pandemic-induced demand for sales of its cloud-based services. Apple shares have climbed 12% in 2021.
Apple’s stock market value overtook Microsoft in 2010 as the iPhone made it the world’s leading consumer technology company. Both companies have served as Wall Street’s most valuable company in recent years, with Apple holding the title since mid-2020.
In its report late Tuesday, Microsoft forecast a strong end to the calendar year thanks to its booming cloud business, but warned that the supply-chain crisis would continue to dog flagship units, such as its Surface Laptop. and those producing Xbox gaming consoles.
According to Refinitiv, analysts expect Apple to report 31% in September-quarter revenue to $84.8 billion and adjusted earnings per share of $1.24.
Shares of Microsoft jumped 4.2% to a record $323.17, according to Refinitiv data, thanks to strong quarterly growth in its Azure cloud-computing business, bringing the software maker’s market capitalization to $2.426 trillion, compared to Apple’s $2.461 trillion. less than the valuation.
Apple shares fell 0.3% after the bell on Thursday, with investors focused on how the global supply-chain crisis is challenging the company’s ability to meet demand for its iPhones.
Microsoft’s stock is up 45% this year, fueled by pandemic-induced demand for sales of its cloud-based services. Apple shares have climbed 12% in 2021.
Apple’s stock market value overtook Microsoft in 2010 as the iPhone made it the world’s leading consumer technology company. Both companies have served as Wall Street’s most valuable company in recent years, with Apple holding the title since mid-2020.
In its report late Tuesday, Microsoft forecast a strong end to the calendar year thanks to its booming cloud business, but warned that the supply-chain crisis would continue to dog flagship units, such as its Surface Laptop. and those producing Xbox gaming consoles.
According to Refinitiv, analysts expect Apple to report 31% in September-quarter revenue to $84.8 billion and adjusted earnings per share of $1.24.
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