Money
Will Microsoft take a bite out of Apple’s empire?
Fresh worries about smartphone demand have pushed Apple’s shares down 4% so far in 2024 after rallying 48% last year.
Microsoft is up about 2% year to date after surging 57% in 2023.
Apple dipped 0.4% on Wednesday, while Microsoft added 1.6%, further eroding the iPhone maker’s lead.
Apple’s stock market value is now at $2.866 trillion, compared to Microsoft’s $2.837 trillion value.
Market cap peak
Apple’s market capitalisation peaked at $3.081 trillion on Dec. 14, while Microsoft’s value reached as much as $2.844 trillion on Nov. 28.
iPhone sales in China dropped 30% in the first week of 2024, Jefferies analysts said in a client note this week.
Sales of Apple’s Vision Pro mixed-reality headset start on Feb. 2 in the United States, marking Apple’s biggest product launch since the iPhone in 2007.
UBS estimated that Vision Pro sales would be “relatively immaterial” to Apple’s earnings per share in 2024.
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