What you need to know
- Apple is no longer the world's most valuable company.
- That honor now falls to Microsoft following the opening of today's markets.
- Microsoft is now worth $2.44 trillion.
As the markets opened today, Microsoft passed Apple as the world's largest company, the first time in 16 months that Apple hasn't held the top spot.
Apple shares slid at the open this morning despite record Q4 revenues, as Tim Cook warned that the global chip shortage would impact the company into the holiday season. Microsoft's shares are up slightly, giving it a market cap of $2.45 trillion at the time of publication, compared to just $2.44 for Apple. Of course, there's plenty of trading left in the day, so the standings might not finish like this, but it's still a momentous day nonetheless.
Apple reported $83.4 billion in revenue for Q4 2021 but says it lost out on some $6 billion because of COVID supply chain disruption and the global chip shortage. A shortage Cook and Apple say will continue to squeeze through the end of the year. From our report earlier today:
Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple.
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