A surge in Microsoft Corp\u2019s shares nearly unseated Apple Inc as the world\u2019s most valuable company on Wednesday, a day before the iPhone maker reports its quarterly results.<\/p>\n
Fueled by strong quarterly growth in its Azure cloud-computing business, Microsoft\u2019s shares jumped 4.2% to end at a record $323.17, elevating the software maker\u2019s market capitalization to $2.426 trillion, just short of Apple\u2019s $2.461 trillion valuation, according to Refinitiv data.<\/p>\n
Apple\u2019s shares dipped 0.3% ahead of its report due after the bell on Thursday, with investors focused on how the global supply-chain crisis is challenging the company\u2019s ability to meet demand for its iPhones. Microsoft\u2019s stock has rallied 45% this year, with pandemic-induced demand for its cloud-based services driving sales.<\/p>\n
Shares of Apple have climbed 12% in 2021. Apple\u2019s stock market value overtook Microsoft\u2019s in 2010 as the iPhone made it the world\u2019s premier consumer technology company. The two companies have taken turns as Wall Street\u2019s most valuable company in recent years, with Apple holding the title since mid-2020.<\/p>\n
In its report late on Tuesday, Microsoft forecast a strong end to the calendar year thanks to its booming cloud business, but it warned that supply-chain woes will continue to dog key units, such as those producing its Surface laptops and Xbox gaming consoles.<\/p>\n
Analysts on average expect Apple to report September-quarter revenue up 31% to $84.8 billion and adjusted earnings per share of $1.24, according to Refinitiv.<\/p>\n","protected":false},"excerpt":{"rendered":"
A surge in Microsoft Corp\u2019s shares nearly unseated Apple Inc as the world\u2019s most valuable company on Wednesday, a day before the iPhone maker reports its quarterly results. Fueled by strong quarterly growth in its Azure cloud-computing business, Microsoft\u2019s shares jumped 4.2% to end at a record $323.17, elevating the software maker\u2019s market capitalization to $2.426 trillion, just short of Apple\u2019s $2.461 trillion valuation, according to Refinitiv data. Apple\u2019s shares dipped 0.3% ahead of its report due after the bell on Thursday, with investors focused on how the global supply-chain crisis is challenging the company\u2019s ability to meet demand for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-799113","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=799113"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799113\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=799113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=799113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=799113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}