Microsoft became the world’s most valuable publicly traded company in January 2024 after overtaking Apple.
Microsoft’s market capitalization briefly moved ahead of Apple in January 2024. Investors were responding to strong demand for cloud computing and enthusiasm about Microsoft’s artificial-intelligence strategy, including its close partnership with OpenAI and the integration of AI features into its products.
The lead changed hands because both companies had enormous valuations and highly liquid shares. Apple remained a global technology leader, but concerns about iPhone demand and growth in China weighed on its stock at that point, while Microsoft benefited from optimism surrounding Azure and generative AI.
“Most valuable” in this context means the highest market capitalization among publicly traded companies. It does not mean the highest revenue, profit, assets, or brand value, and the ranking can change from one trading session to the next.