Apple has definitely seen some better days! It was recently announced that Apple has officially been dethroned as the world’s most valuable company. Considering how successful Apple has been since its launch decades ago, with products ranging from laptops, smartphones, tablets, and music streaming services, it comes as quite a surprise to find out that they have been bumped down from their number one spot.
According to CNN, Microsoft has officially surpassed Apple on Friday, Nov. 30, 2018, ending the companies’ streak as being the most valuable company, with a market cap of $851 billion. This is an incredible feat for Microsoft; however, both companies remain well below the $1 trillion milestones, which companies such as Amazon hit earlier this year.
Apple first gained the title as most valuable company after they pass Microsoft in 2010, marking the days in which Apple thrived while Microsoft floundered, however, the tables seem to have turned in Microsoft’s favor. This change in tech events is said to be due to Microsoft focusing on enterprise customers rather than consumers. Although this may come as a shock, it is quite expected considering the backlash Apple has been receiving since their newest products debuted earlier this fall.
According to CBS Philly, Apple has seen its stock plunge amid concerns regarding the expensive iPhone prices and decrease in demand due to the high price point. In addition to the pricey smartphones, many users have ditched Apple for Android when reports surfaced claiming that President Donald Trump is open to placing tariffs on the Apple iPhone! Although this does not put Apple in any harms way, considering they are still a multibillion-dollar corporation doing just fine, it will affect their sales and numbers in the long run.
Dan Morgan, who is the senior portfolio manager at Synovus Trust, claims that Microsoft, in turn, does not have to worry about “flat-lining”, claiming their tactic of focusing on enterprise customers will serve them well from here on out. We can only imagine what is to come for the future of both companies but must tilt our hats to Microsoft for taking the lead after a solid eight-year run.