After spending almost 8 years below Apple Inc. The software giant has finally surpassed its arch-rival in terms of market capital.
Apple, which became the first US company to cross the $1 trillion mark has now been overtaken by Microsoft for the number one spot. Microsoft, which has recently acquired Github now aims to better its cloud services. While the other tech giants like Google and Facebook are regularly being questioned over consumer data protection, Microsoft has slowly and steadily increased their hold on the cloud market.
The company is doing well in the cloud segment with Azure services becoming the second most popular choice after Amazon’s AWS.
Microsoft became the most valuable company with a market capitalisation of $753.3 billion. Amazon is third on the spot with a market cap of $736 billion, while Apple is second with $746 billion.
Microsoft, who managed to maintain their lead by the end of trading hours on Friday it remains yet to be seen for how long the company can maintain its lead.