Apple’s 23% slide over the past four trading days has knocked it off the top spot, making Microsoft the world’s most valuable public company once again.
As of Tuesday’s market close, Microsoft’s valuation stood at $2.64 trillion, edging out Apple’s $2.59 trillion.
The broader market is under pressure from President Donald Trump’s sweeping tariff plan, but Apple is feeling the most pain among tech’s megacaps due to its strong reliance on China.
The Nasdaq has dropped 13% over the past four trading days, as President Trump’s move to impose tariffs on imports from over 100 countries stokes recession fears driven by rising prices.
On Monday, UBS analysts warned that the iPhone 16 Pro Max could see a price hike of up to $350 in the U.S.
Apple, Microsoft, and chipmaker Nvidia were all valued above $3 trillion before the recent market sell-off.
In January, Microsoft issued underwhelming revenue guidance.
However, just last week, Jefferies analysts—while lowering price targets on many software stocks—highlighted Microsoft as one of the “companies we view as more insulated” from tariff-related uncertainty.
