Microsoft overtook Apple as the world’s largest company by market capitalization in January 2024.
Microsoft briefly moved ahead of Apple in January 2024 as investors rewarded its cloud business and its growing partnership with OpenAI. Microsoft’s Azure cloud platform, enterprise software, and artificial-intelligence products became major parts of the company’s market story, alongside its long-established Windows and Office businesses.
Rankings by market capitalization can change quickly because they depend on share prices, exchange rates, and share counts. Microsoft and Apple have repeatedly exchanged the top position, so a ranking reported on one date may not apply later. Market capitalization also differs from a company’s annual sales: a company can have a lower revenue figure but a higher market value when investors expect stronger future growth.