Microsoft Becomes World’s Most Valuable Stock as Apple Drops
- Apple’s fourth-quarter revenue falls short of expectations
- Microsoft has best week in almost a year after strong earnings
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The slump in Apple Inc.’s shares on Friday propelled Microsoft Corp. to the position of the world’s largest listed company by market capitalization.
Apple fell 1.8% after reporting fourth-quarter revenue that came in below the average analyst estimate, which gave the iPhone maker a market value of $2.46 trillion. Microsoft rose 2.2% to hit a market value of $2.49 trillion, blowing past Apple after reporting estimate-topping results for an 11th straight quarter earlier this week.