Skip to main content

Microsoft’s market value overtakes Apple’s to close out week

apple, market share, Microsoft

SAN FRANCISCO: Microsoft Corp’s stock market value closed above Apple Inc’s for the first time in eight years on Friday as the Windows maker benefited from growth in cloud computing while Apple was hit by investor concern about iPhone demand.

Shares of Microsoft rose 0.6 percent to end the week at $110.89, putting its market capitalization at $851.2 billion. Apple shares fell 0.5 percent to $178.58 on the day, adding up to a market value of $847.4 billion.

The two stocks jostled for the top spot over the course of the week, with Microsoft’s stock market value exceeding Apple’s at several points in intra-day trading but not at the close.

Both companies’ market capitalizations were calculated using outstanding shares reported in their most recent 10-Q filings.

Apple’s market capitalization overtook Microsoft’s in 2010 as Microsoft struggled with slow demand for personal computers, due in part to the explosion of smartphones like the iPhone.

After Satya Nadella took over as chief executive in 2014, Microsoft reduced its reliance on Windows software for PCs and became a major player in cloud computing, second only to Amazon.com Inc.

In recent months, technology shares have been punished by investors worried about rising interest rates and the potential consequences of the U.S.-China trade war.

Apple shares are now 19.6 percent lower than on Nov. 1, when the company warned after the regular session that holiday-quarter sales would likely miss Wall Street expectations.

Global demand for smartphones has slowed in recent years.

Thirty-three analysts recommend buying Microsoft’s stock, with just one sell rating and one neutral, according to Refinitiv data.

Twenty-five analysts have positive ratings on Apple, 16 are neutral and none recommend selling, the data show.

Analysts on average expect Microsoft’s revenue to increase 12.7 percent for its fiscal year 2019 ending in June, compared with an estimated 5 percent rise for Apple’s fiscal 2019, which ends in Sept, according to the Refinitiv data.

The post Microsoft’s market value overtakes Apple’s to close out week appeared first on ARYNEWS.

Labels:

Comments

Post a Comment

Popular posts from this blog

K-Electric fined Rs2 mn over weak power supply system

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday imposed a fine of Rs2 million on the K-Electric. According to a statement issued by the power regulatory authority, the K-Electric was penalized over non-compliance of performance standards, particularly its failure to restore power supply within the prescribed time frame and to ensure the safety of public in Karachi. Quoting media reports, it said large swathes of Karachi remained without electricity due to the tripping of almost 700 feeders during rainy weather in June last year, which resulted in long power blackouts ranging from 24 hours to 48 hours in almost 50% areas of Karachi. Further, there were also reports of fatal injuries to some people owing to electrocution. The Nepra took notice of the situation in Karachi and directed the K-Electric to immediately provide a detailed report on the tripping of feeders and electrocution incidents along with preventive and corrective steps taken by K-Elec...
Post a Comment
Read more

10 creepy celebrity wax statues

Waxworks of celebrities, sports persons and politicians such as Tom Cruise, Barack Obama and Christiano Ronaldo are admired by people all over the world. The craft requires taking careful and accurate measurements to create these wax statues, which are then polished and perfected to make for an exact replica. Madame Tussaud’s is one of the most famous museums in the world that displays wax statues, however, not all wax museums in the world craft flawless statues. Compiled from Cosmopolitan India , here is a list of the creepiest celebrity wax statues. Barack Obama PHOTO: COSMOPOLITAN David and Victoria Beckham PHOTO: COSMOPOLITAN Jennifer Aniston PHOTO: COSMOPOLITAN Beyonce’s wax statue sparks outrage Jennifer Lopez PHOTO: COSMOPOLITAN Justin Bieber PHOTO: COSMOPOLITAN Justin Timberlake PHOTO: COSMOPOLITAN Aamir Khan PHOTO: COSMOPOLITAN Katrina Kaif PHOTO: COSMOPOLITAN London’s Tussauds gets to work on Trump wax figure Selena Gomez PHOTO: C...
Post a Comment
Read more

Accountability court hears assets case against Ishaq Dar

ISLAMABAD: An accountability court in Islamabad on Wednesday resumed the hearing of a reference filed against former finance minister Ishaq Dar by the National Accountability Bureau (NAB) for allegedly accumulating assets beyond his known sources of income.  Judge Muhammad Bashir is recording the statement of a prosecution witness, Ishtiaq Ahmed. At the previous hearing, the accountability judge had reserved his verdict on an application filed by two co-accused seeking acquittal in the case. Naeem Mehmood and Mansoor Rizvi, who are directors of Dar’s companies, had filed the application requesting the judge to exonerate them from all charges for want of evidence. Qazi Misbah, the counsel for the two co-accused, contended the prosecution has failed to provide compelling evidence to prove the allegations leveled against his clients. The third co-accused President National Bank of Pakistan (NBP), Saeed Ahmed, had already filed an application before the court for his acquittal wh...
Post a Comment
Read more