San Francisco, November 25:
Microsoft has become the most valuable US company with $753.3 billion in market capitalisation, riding past Apple for the first time since 2010 when it came close to the Cupertino-based tech giant.
Apple, which became the first $1-trillion US company in August, came down to $746.8 billion on Friday, owing to lower-than-expected iPhone sales amid reports of its suppliers cutting cost and workforce.
Amazon with $736.6 billion is currently at third and Alphabet (the parent company of Google) with $725.5 billion is at the fourth spot.
“With Microsoft now overshadowing all three, including Alphabet Inc, the firm now looks to be the most valuable tech company of the Silicon Valley giants,” mspoweruser.com reported.Riding on its growing Azure Cloud, gaming and Surface laptop portfolio, Microsoft posted a revenue of $29.1 billion and net income of $8.8 billion for the first quarter of its 2019 financial results.
Revenue was up 19 per cent while net income increased by 34 per cent. Operating income was $10 billion and increased 29 per cent.
