Microsoft Almost Overtakes Apple As The Richest Technology Company On Earth, This Is The Value Of Its Stock!

Microsoft has not been able to beat Apple as the richest company in the world. (photo: unsplash)

JAKARTA— The soaring share of Microsoft Corp. nearly overtook Apple Inc. as the world's most valuable company on Wednesday, October 27, a day before the iPhone maker reported its quarterly results.

Fueled by strong quarterly growth in its Azure cloud computing business, Microsoft shares jumped 4.2% to end at a record 323.17 US dollars (Rp4.5 million) per share, increasing the software maker's market capitalization to 2.426 trillion US dollars (Rp34,5 quadrillion), slightly below Apple's valuation of US$2.461 trillion (Rp35 quadrillion), according to Refinitiv data.

Apple shares fell 0.3% ahead of a report due out on Thursday, October 28 with investors focused on how the global supply chain crisis is challenging the company's ability to meet demand for its iPhones.

Microsoft shares have rallied 45% this year, with pandemic-induced demand for cloud-based services driving sales. While Apple's stock has risen 12% in 2021.

Apple's stock market value overtook Microsoft in 2010 as the iPhone made it the world's premier consumer technology company. The two companies have alternated as the most valuable companies on Wall Street in recent years, with Apple holding the title since mid-2020.

In its report late Tuesday, Microsoft forecast a strong end to the calendar year thanks to its booming cloud business, but warned that supply chain woes will continue to plague key units, such as those that manufacture Surface laptops and Xbox game consoles.

Analysts on average expect Apple to report September quarter earnings up 31 percent to $84.8 billion and adjusted earnings per share of $1.24, according to Refinitiv.