Microsoft’s stock market value has surpassed $3 trillion for the first time, making it the world’s second most valuable company after Apple.
This achievement comes as Microsoft and Apple have been competing for the top spot in market capitalization.
Microsoft’s success is attributed to its investment in OpenAI and its advancements in generative artificial intelligence (AI).
“I think it’s AI optimism for Microsoft,” Stifel analyst Brad Reback said, noting that Apple lacks the same “clear AI story.”
The company’s stock is predicted to rise further, with analysts having a median price target of $425.
On the other hand, Apple is facing challenges with slowing iPhone demand, particularly in China, where it is offering discounts to boost sales.
The future performance of these tech giants will be closely watched as they prepare to report their results in the coming weeks.
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