At the third attempt in five days, Microsoft has finally regained the mantle as the world’s most valuable company from Apple.
It means that for the first time since it was overtaken by ExxonMobil in 2011, Microsoft again stands alone as the world’s most valuable company – still $US200 billion or so below the level that Apple reached at its peak a month ago.
On two occasions earlier in the week, Microsoft’s market value briefly exceeded that of Apple (which is the world’s first trillion company).
On Friday at the close of trading for the week and the month of November, Microsoft’s its market capitalisation topped that of Apple – $857.06 billion, around $US10 billion above Apple’s value.
Shares in the maker of Windows and Xbox gaming consoles rose 06% to $US110.89, while Apple shares dropped 0.5% to $US178.58.
In late trade on Tuesday, Microsoft’s market cap. moved above that of Apple for a brief moment, and the following day Microsoft’s value topped Apple’s for an hour or so.
Rather than a surge in Microsoft shares in the past month or so, it has been the sharp fall in the value of Apple shares that have led to the re-ranking.
Apple shares are down 13.9% in November, Microsoft shares were up 4.4%.
In fact, Apple shares are down 23.1% from their record high on October 3. The company’s hold on the most valuable company title – above $US1 trillion – lasted around three months.
Apple’s slump hasn’t damaged the share performance of Berkshire Hathaway, its biggest shareholder.
Warren Buffett’s company’s shares rose 5.7% in November (for the voting shares), easily outperforming Apple’s slide and the performance of the S&P 500 which was up 1.36% in November.
