Microsoft became the world’s most valuable listed company by market capitalization in April 2019, surpassing Apple.
The change reflected a strong rise in Microsoft’s share price alongside concerns about slower iPhone demand and sales at Apple. Microsoft’s transformation under chief executive Satya Nadella placed greater emphasis on cloud computing, subscriptions, and enterprise services.
Microsoft’s Azure business was central to that transformation. The company also shifted major software products, including Office, toward subscription models, creating recurring revenue rather than relying only on traditional one-time software purchases.
The title of world’s most valuable company can change frequently because it is calculated from live share prices and shares outstanding. Microsoft and Apple have repeatedly exchanged the top position, while Saudi Aramco, Alphabet, Amazon, and Nvidia have also ranked near the summit at different times.