This has been reported According to Reuters, Ukrinform.

Microsoft shares have soared thanks to the company’s leadership in generative artificial intelligence, including an investment in ChatGPT maker OpenAI.

Microsoft shares closed with a 0.5% increase and its market value was $ 2.859 trillion. They rose as much as 2% during the session, briefly valuing the company at $2.903 trillion. Apple shares closed down 0.3%, giving the company a market value of $2.886 trillion.

Microsoft and Apple have been fighting for first place in the market for many years.

Microsoft has incorporated OpenAI technology into its software suite; This was a move that helped the company revive its cloud computing business in July-September.

Meanwhile, Apple is struggling with declining demand, especially for its iPhone. Demand in China, the major market, dropped and Huawei became a serious competitor in the Chinese market.

Apple shares fell 3.3% at last close in January, while Microsoft shares rose 1.8%.

Microsoft has briefly surpassed Apple as the most valuable company several times since 2018; this includes 2021, when fears of supply chain shortages caused by COVID-19 hit the iPhone maker’s share price.

Wall Street is currently more bullish on Microsoft. The company does not have a “sell” rating, and almost 90% of brokerage firms serving the company recommend buying its shares.

Apple has a two sell rating, and only two-thirds of analysts covering the company recommend buying its shares.

Shares of the American company Apple Inc in July 2023, as reported by Ukrinform It exceeded $3 trillion for the first time.