Microsoft’s big bet on cloud computing is paying off as the company has surpassed Apple as the world’s most valuable publicly traded company. Apple had been the world’s most prosperous firm since claiming the top spot from Exxon Mobil earlier this decade. Microsoft surpassed Apple briefly a few times this week, but didn’t close on top until Friday, with a market value of $851 billion to Apple’s $847 billion. Being less reliant on consumer demand helped shield Microsoft from holiday season turbulence and U.S.-China trade war jitters affecting Apple and other tech companies. And while Amazon also has a strong cloud business, it’s still more dependent on online retail.

Source: National Post November 30, 2018 21:11 UTC