Microsoft Corp briefly unseated longtime rival Apple Inc. AAPL -0.22% on Tuesday as the world’s most valuable company, reflecting investors’ faith in its revival under Chief Executive Satya Nadella while the iPhone maker adjusts to slowing momentum for its most profitable product.
Shares in Microsoft opened at $106.27, pushing its market capitalization to $815.75 billion, elbowing past Apple’s opening value of $813.88 billion. After the first minute of trading, Apple was back on top. The two swapped spots several times later in the day before Apple at the close reclaimed the title it has held for most of the past seven years.
Apple finished with a market value of $826.84 billion while Microsoft was at $822.43 billion. Market values are calculated using data provided by FactSet, which draws information from public filings. Read more at WSJ.