{"id":14473,"date":"2021-11-01T11:51:09","date_gmt":"2021-11-01T15:51:09","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=14473"},"modified":"2021-11-26T21:41:32","modified_gmt":"2021-11-27T02:41:32","slug":"apple-shares-slip-microsoft-now-most-valuable-company","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/apple-shares-slip-microsoft-now-most-valuable-company\/","title":{"rendered":"Apple Shares Slip, Microsoft Now Most Valuable Company"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Apple surrendered the top spot as the world&#8217;s most valuable publicly traded company to technology giant Microsoft Corp on Friday after shares in the iPhone maker fell about 2%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Apple suffered a US$6 billion drop in revenue in the fourth quarter due to ongoing global supply chain bottlenecks, which led to lower-than-expected growth. Apple CEO Tim Cook expressed more pessimism for the current Christmas quarter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Apple shares fell 1.8% to $149.80, giving the technology giant a market capitalization of $2.48 trillion, while Microsoft shares rose 2.2% to a record high of $331.62, ending the session with a market capitalization of about $2.49 trillion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Apple, which has repurchased $421.7 billion worth of shares in recent years, launched a massive $90 billion share buyback in April last year, leading to a steadily shrinking outstanding stock pool as the technology giant closed its fourth fiscal quarter with $16.4 billion worth of shares.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Microsoft shares have risen an impressive 49% this year as revenue from its cloud-based services has continued to grow. Apple shares have gained 13% so far this year.<\/p>\n\n\n<p>For more information, you may view the <a href=\"https:\/\/www.reuters.com\/technology\/apple-set-hand-crown-worlds-most-valuable-company-microsoft-2021-10-29\/\">original story <\/a>from Reuters.<\/p>","protected":false},"excerpt":{"rendered":"<p>Apple surrendered the top spot as the world&#8217;s most valuable publicly traded company to technology giant Microsoft Corp on Friday<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[57],"tags":[202],"class_list":["post-14473","post","type-post","status-publish","format-standard","hentry","category-companies","tag-apple"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/14473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=14473"}],"version-history":[{"count":3,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/14473\/revisions"}],"predecessor-version":[{"id":14489,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/14473\/revisions\/14489"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=14473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=14473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=14473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}