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For the first time since 2021, Microsoft overtook Apple to become the world’s most valuable company, with its share price rising to $2.865 trillion on investment in generative AI. Microsoft shares rose 0.7%, and its market capitalization once reached $2.903 trillion.
Apple shares fell 0.9% to a market capitalization of $2.871 trillion. Analysts say it’s inevitable that Microsoft will overtake Apple, as it grows faster and benefits from the generative AI revolution. Microsoft’s integration of OpenAI technology into its productivity software helped cloud computing businesses rebound in the July-September quarter. Apple is facing weak demand, especially in China.
Microsoft’s positive outlook is bullish on Wall Street, with nearly 90% of brokerage firms recommending buying its shares.
(Source: Reuters Image source: freepik)
