|
On the 11th (local time), Microsoft (MS) temporarily surpassed Apple to top the market capitalization on the New York Stock Exchange.
MS’s market capitalization reached $2.875 trillion with a roughly 2% rise on the New York Stock Exchange that morning. On the other hand, Apple fell about 1%, bringing its market capitalization down to approximately $2.871 trillion, falling below MA.
As a result, MS returned to the top of the market cap for the first time in about 2 years and 2 months since November 2021. Afterward, Apple’s stock price rose again, bringing its market cap close to MS at $2.85 trillion.
Experts analyze that the rise in MS’s market cap is due to the growth in the cloud computing service sector. In particular, MS’s recent investment in OpenAI, the developer of ChatGPT in the AI field, has had a positive impact on the stock price rise by securing a favorable position.
By. Man Joo Hu
Most Commented