Microsoft briefly usurped Apple to become the world’s biggest company by market value on Thursday, as the boom in artificial intelligence brought a new twist to the decades-long rivalry between the two Big Tech groups.
The software company’s shares climbed around 1 per cent in early trading on Thursday to take its market value to $2.87tn, just ahead of the iPhone maker, whose shares fell by almost 1 per cent.
By midday in New York, Apple had retaken the top spot as the broader market turned lower. At the close of trading in New York, Apple remained ahead at $2.89tn compared to Microsoft’s $2.86tn.
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