Posted 3/1/2024, 5:45:00 PM
Microsoft Pulls Ahead of Apple with Over $3 Trillion Valuation As AI Plans Boost Market Momentum
- Microsoft's market cap is over $3 trillion, while Apple's is $2.75 trillion, the widest gap between the two companies since 2003
- In 2003, Microsoft was worth $320B and Apple just $8.1B; now the companies' valuations have dramatically increased
- Apple's stock is down 8% in 2023 so far, while Microsoft is up 10%, continuing momentum from strong 2022 gains
- Apple's revenue growth stalled last year and management has been quiet about AI plans, while Microsoft is seen as a key AI play
- Goldman Sachs remains bullish on Apple though it expects slower product revenue growth ahead for the company