Move over Apple, Microsoft now the world's most valuable company


FILE PHOTO Microsoft logo is seen on the smartphone in front of displayed Apple logo in this illustration taken July 26 2021. REUTERSDado RuvicIllustration

FILE PHOTO: Microsoft logo is seen on the smartphone in front of displayed Apple logo in this illustration taken, July 26, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) -Apple Inc lost its crown as the world's most valuable public company to Microsoft Corp on Friday, as the iPhone maker's shares continued their downward slide.

Apple took a $6 billion hit to its sales during the fiscal fourth quarter due to a nagging global supply chain problem, leading to a miss on Wall Street expectations. Top boss Tim Cook said the impact will be even worse in the current holiday sales quarter.

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