आईसीटी समाचार
Apple lost its title as the world's most valuable public corporation to Microsoft, as the iPhone maker's stock dropped around 2%. Apple's revenues dropped $6 billion in the fiscal fourth quarter as a result of ongoing worldwide supply chain issues, falling short of Wall Street projections. Tim Cook, Apple's CEO, predicted that the impact will be considerably greater during the current Christmas sales quarter.
"Apple is also a lot more sensitive to supply chain disruption than its less hardware oriented FAANG counterparts," said Sophie Lund-Yates, equities analyst at Hargreaves Lansdown. Apple's stock fell 1.8 percent to $149.80 at the close of trading, giving the firm a market valuation of $2.48 trillion. Microsoft, on the other hand, surged 2.2 percent to a new high of $331.62, giving the company a market valuation of $2.49 trillion at the close of the session. Apple announced a hefty $90 billion share buyback in April, after repurchasing $421.7 billion worth of stock over the years.
As a result, the company's outstanding stock pool continues to decline, with 16.4 billion shares at the conclusion of the fiscal fourth quarter. Microsoft's stock has risen 49 percent this year, owing to increased demand for its cloud-based services as a result of the pandemic. Apple's stock has increased by 13% so far this year. In 2010, Apple's stock market valuation surpassed Microsoft's, thanks to the iPhone, which made it the world's most valuable consumer technology business. In recent years, the businesses have alternated as the most valuable company on Wall Street, with Apple holding the position since mid-2020.
Analysts think Apple has handled the supply chain issue successfully, but with Cook predicting further pressure, the company's performance might suffer as the holiday season approaches. Microsoft, on the other hand, predicted a good conclusion to the calendar year on Tuesday. However, it cautioned that supply-chain issues will continue to afflict important units, including as ones that manufacture Surface computers and Xbox gaming consoles.
