The iPhone maker lost its best-valued company spot on the New York Stock Exchange on Friday to Microsoft in the wake of a fall in its shares.
Around 3:00 p.m. GMT, Apple's stock lost 3.52% to $ 147.14, lowering its market capitalization to $ 2.415 billion.
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Apple has thus passed behind Microsoft, whose title rose 0.74%, raising the stock market valuation of the IT group at the forefront of Wall Street, to $ 2.453 billion.
This is the first time since July 2020, when the tech sector attracted a crowd of investors to the heart of the pandemic and lockdowns, that Apple has been dethroned, according to Bloomberg data.
Victim of semiconductor shortages
Apple, which announced its quarterly results on Friday after the market closed, said it suffered from bottlenecks in the supply chain and the supply of components. He lost about $ 6 billion in revenue in the quarter because of these constraints. The iPhone maker posted quarterly revenue of $ 83.3 billion, below expectations, and net profit of $ 20.5 billion.
Microsoft, for its part, saw its profits jump this summer, with also 20.5 billion dollars in net profit (+ 48% over one year) for a turnover of 45.3 billion (+ 22%).
Since the announcement on Tuesday of this performance boosted by activity in the cloud (remote computing), the title of the software group has climbed 5.5%.
It was last June that the group co-founded by Bill Gates reached second place among the largest stock market valuations.