Microsoft Passes Apple To Become the World's Most Valuable Company

Microsoft passed Apple in market cap on Friday, making it the world's most valuable publicly-traded company, after Apple missed earnings expectations on Thursday. From a report: As of 10:30 a.m. ET Microsoft had a market cap of $2.45 trillion while Apple's stood at about $2.41 trillion. Apple reported revenue that fell short of Wall Street expectations during the company's fiscal fourth-quarter on Thursday, a result of supply chain constraints. CEO Tim Cook told CNBC's Josh Lipton the revenue shortfall is estimated at $6 billion, but he expects worse supply chain issues in the December quarter. iPhone sales at the company were up 47% year-over-year but also fell short of analyst expectations. The company's fourth-quarter only included a few days of iPhone 13 sales. Microsoft beat revenue expectations during its fiscal first quarter, which climbed about 22% year-over-year. That was the fastest growth since 2018, CNBC previously reported.

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