Microsoft challenges Apple as world’s most valuable company

Apple’s stock market value is now at US$2.87 trillion, compared to Microsoft’s US$2.84 trillion value. — Reuters

NEW YORK: A recent dip in Apple’s stock over worries about iPhone sales has left the Silicon Valley tech heavyweight in danger of being overtaken by Microsoft as the world’s most valuable company.

Fresh worries about smartphone demand have pushed Apple’s shares down 4% so far in 2024 after rallying 48% last year.