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The
tech giant, which along with Nvidia and Amazon placed a
significant emphasis on AI, has experienced substantial market
surges over the past year. Notably, Microsoft's market value has
risen by over $1 trillion.
Analysts are drawing parallels between this shift and the early
2000s, when technology and internet companies began to replace
consumer and financial firms at the forefront of the market's
highest echelons.
According to LSEG data, Microsoft's market cap stood at $2.887
trillion, its highest ever, while Apple's market cap was $2.875
trillion as of Friday's close after peaking at $3.081 trillion
on Dec. 14.
Microsoft has incorporated OpenAI's technology across its suite
of productivity software, a move that helped spark a rebound in
its cloud-computing business in the July-September quarter. Its
AI lead has also created an opportunity to challenge Google's
dominance of web search.
Apple, on the other hand, is facing challenges with waning
demand, including for its flagship product, the iPhone.
The company is particularly struggling in China, a key market
where economic recovery from the COVID-19 pandemic has been
sluggish and competition from a resurgent Huawei is
intensifying, impacting its market share.
Other AI-focused tech players such as Nvidia, Meta Platforms and
Alphabet, also witnessed a big jump in their market cap in the
past year.
(Reporting By Patturaja Murugaboopathy and Gaurav Dogra in
Bengaluru; Editing by Varun H K)
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