The stock price of the leading U.S. Big Tech Microsoft (MS) hit an all-time high, and the market cap is set to overtake Apple.
On the 7th (local time) on the New York market, Microsoft recorded $1603, up 1.12% from the previous trading day. This is the highest ever. This marks Microsoft’s eighth consecutive day of stock rise, the longest rally since January 2021.
As a result, Microsoft’s total market capitalization is $2.7 trillion, which is ready to overtake Apple. As of this day, Apple’s market cap is $2.82 trillion.
Apple is the first human company to surpass $3 trillion in market capital. However, the stock price has been weakening recently as iPhone sales have been sluggish due to the global economic slowdown. As a result, the market capitalization has also fallen from $3 trillion to $2.8 trillion.
By comparison, Microsoft is rallying day after day thanks to the special generational artificial intelligence (AI). Microsoft is actively adopting generative AI, as well as investing in the ‘open AI’ that developed ChatGPT.
For this reason, Microsoft’s stock price has been rallying recently. It is the largest AI beneficiary among big tech companies.
When Microsoft has a market cap of about $120 billion, it overtakes Apple.
TED PARK
US ASIA JOURNAL
