SEATTLE — Microsoft overtook Apple as the world’s most valuable company after losing the top spot in June.
But the circumstances are different from before. Apple claimed the victory last year after the two tech giants jockeyed for the top spot earlier in the year, thanks to surges in their market capitalization value.
In June, Apple’s market cap was $3.29 trillion to Microsoft’s $3.24 trillion.
The White House’s announcement of broad tariffs on all imported goods, with heavier rates levied on certain countries, has wiped out trillions in stock market value. Tech is among the industries that haven’t been spared, with share prices for Apple, Microsoft and others tumbling since Wednesday.
Microsoft’s market cap hit $2.69 trillion to Apple’s $2.67 trillion shortly after noon Central time. Microsoft’s stock was rising, while Apple’s was falling.
Both global companies, Microsoft and Apple are exposed to rifts in trade, but Apple is especially vulnerable because most of its products are built overseas. Almost all of Microsoft’s revenue comes from cloud and software services.
