Microsoft overtakes Apple as world's most valuable company

The last time Microsoft dethroned Apple was in the first half of 2020 as investors flocked into growth stocks amid the Covid-19 pandemic

Microsoft is worth $2.46tn, just above Apple's valuation of $2.41tn.

The drop in Apple’s shares has propelled Microsoft to the position of the world’s largest listed company by market capitalisation.

Apple fell as much as 3.9% to $146.65 after reporting fourth-quarter revenue that came in below analyst expectations, which gave the iPhone maker a market value of $2.41tn. Microsoft rose as much as 1.1% to hit a market value of $2.46tn (€2.1tn), blowing past Apple after reporting estimate-topping results for an 11th straight quarter earlier this week.