Microsoft has now officially regained its crown as the world’s most valuable company, surging past Apple with an astounding market capitalization of $851.2 billion. This valuation came at Friday’s close when its share prices flew higher than those of its closest competitor. The last time when Microsoft was more valuable than its arch-rival was way back in 2010. However, the popularity of the iPhone and the path-breaking leadership of Steve Jobs saw Apple’s fortunes soar to stratospheric heights. Microsoft, on the other hand, struggled with some bad decisions and its late entry into the smartphone and tablet market, which were rapidly dominated by Apple and Alphabet. Most experts blamed Microsoft’s poor performance on its then CEO Steve Ballmer.
The latest valuation is a culmination of the steadfast dedication, pioneering vision and a well-rounded approach to the industry by Satya Nadella, who succeeded Baller as the CEO of Microsoft in 2014. The Seattle based tech giant was the most valuable company in the 1990s as it spearheaded the personal computing revolution. It has now regained its title, as rivals like Amazon and Alphabet struggle with third and fourth place.
Microsoft has exploited its position in the industry to help customers migrate to the cloud, which is a major source of its revenue. Moreover, the Xbox gaming division, PC operating systems, Surface range of tablets as well as the professional network LinkedIn have contributed greatly to the company’s coffers. Microsoft now has multiple sources of revenue and is not dependent on a single product or service for its operations. Earlier this month it won a $480 million contract to supply HoloLens devices to the US Military and is in a race for the multi-billion dollar bid for developing a cloud platform for the Pentagon. The future is indeed looking bright for Microsoft.
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