For a few minutes on Monday, November 26, Microsoft beat Apple to become the US's most valuable company when Apple's market value fell to $812.60bn and Microsoft's soared to $812.93bn.
Apple regained some of its value at the end of the day, closing at $828.64bn while Microsoft dropped slightly to $822.90bn. However, the iPhone maker's shares rose just 1.4% compared to Microsoft's 3.4% for the day.
Apple has faced a year of extreme highs and lows, as in August it became the first publicly traded company to be valued at $1 trillion, however, it has since seen its value slip significantly; its decline has included losing $40bn in one day this month. Many analysts have noted that the drop in value was due to investor concern that interest in the iPhone has been waning.
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While it has experienced more stability, Bloomberg reported that "Microsoft isn't immune to weakness in the technology sector". However, the report added that the "company has held up much better, falling about 8% from its own all-time high in October as investors take to its enterprise-oriented business, as well as the success of its cloud-computing division".
Microsoft's much more stable financial outlook this year has already seen it surpass Amazon as the second largest company last month.
A number of tech giants have recently been struggling in a particularly volatile stock market these last couple of months. At the end of October, after became the second company to join the trillion-dollar club, Amazon lost $250bn in eight weeks, while Spotify hit its lowest share price ever.