Microsoft surpasses Apple as most valuable US company

ANKARA

US software company Microsoft surpassed technology firm Apple as the most valuable US company on Friday right after US stock market opening.

Microsoft stock price climbed to $326.52 per share with a 0.67% gain at 9.30 a.m. EDT on the Nasdaq, giving the company a market value of $2.45 trillion, according to data compiled by Anadolu Agency.

Apple stock price declined to $147.75 per share with a 3.16% loss at the opening bell, as the firm's market capitalization fell to $2.44 trillion on the Nasdaq.

At 9.45 a.m. EDT, Microsoft maintained the lead with $2.45 trillion, against Apple's $2.42 trillion.

The recent overtake came just hours after Apple released its financial results on Thursday after closing bell, in which revenue came below market expectation.

Despite posting a record quarterly revenue of $83.4 billion in the July-September period of this year, which was up 29% from $64.7 billion the same period of last year, the recent revenue came short of $84.9 billion market estimate.

Microsoft's revenue, on the other hand, increased 22% to $45.3 billion July-September period, from $37.1 billion the same period of last year, according to its financial results statement released Tuesday after market closing.