Microsoft surpassed Apple as the world’s most valuable listed company and is now worth $2.5 trillion. The software giant took the top spot after Apple’s shares fell 3.5% amid supply chain issues affecting sales of iPhones that could linger well into the holidays. The two have swapped places before – Microsoft edged past Apple in July 2019. With Satya Nadella’s firm firing on all cylinders, it may be time to rethink membership of the FAANG-gang.
Microsoft didn’t get a look-in when Facebook, Apple, Amazon.com, Netflix and Alphabet’s Google were lumped together in an acronym to describe the highest-flying tech firms. But the Office stalwart can certainly keep pace with those members. It is expected to grow revenue for its next fiscal year 16% year-over-year to $195 billion, according to Refinitiv – faster than Netflix and Apple and on par with Alphabet.
