Microsoft briefly overtakes Apple to become world’s most valuable company

Microsoft briefly overtakes Apple to become world’s most valuable company
© Getty

Microsoft on Monday briefly passed Apple to become the most valuable publicly traded company in the world, according to media reports.

Microsoft reached a market cap value of $812.93 billion while Apple sat at $812.60 billion, according to The Verge. It marked the first time in more than eight years that Microsoft surpassed Apple. 

ADVERTISEMENT

The two companies then went back and forth Monday before Apple ultimately closed ahead of Microsoft at $828.64 billion, according to Bloomberg.

Apple reached a record valuation of more than $1 trillion earlier this fall, but its stock has fallen in recent weeks amid a market correction led by a drop in tech stocks. Other leading tech companies, such as Amazon and Google, have also seen their stocks fall.

Microsoft last month overtook Amazon as the second most valuable tech company following a strong quarterly earnings report.