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A handful of times since 2018, Microsoft has briefly taken the lead over Apple as the most valuable company, most recently in 2021, when concerns about supply chain shortages related to the COVID-19 pandemic hit the iPhone maker's stock price.
Apple made headlines on Wednesday after seeing a record high in market valuation, even set to overtake the French stock market.
While Apple’s Q4 FY’23 results published earlier this month were better than anticipated, revenue stood at $89.50 billion, marking a decline of about 1% versus last year.
We expect earnings to stand at about $1.32 per share, slightly ahead of consensus estimates.
Apple released its new iPhone 15 devices at a special event on Tuesday, offering incremental upgrades over last year’s models.