Microsoft overtakes Apple as world's most valuable company

In a significant breakthrough, Microsoft has regained its position as the world's most valuable company, surpassing Apple with a market capitalisation of $3.235 trillion.

According to The Information's newsletter, the iPhone maker’s market cap stands at $3.07 trillion, while Nvidia holds third place with a valuation of $2.76 trillion.

It should be noted that Apple had long held the top spot.

The shift in rankings comes after Microsoft's stock price surged following the release of strong financial results for the March quarter, which exceeded analyst forecasts.

While Apple delivered better-than-expected first-quarter results due to strong iPhone sales, the company has been hit with newly implemented tariffs under President Donald Trump.

Microsoft CEO Satya Nadella has attributed the success to sustained demand for Microsoft's cloud services and artificial intelligence (AI) offerings during an investor call.

Microsoft's shares have outperformed Apple's throughout the year, reflecting growing investor confidence in the company's strategic focus on AI and cloud computing.

On the other hand, Apple's share price has declined 18% since the start of the year due to newly implemented tariffs and supply chain vulnerabilities.