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Al Mayadeen's correspondent in occupied Palestine: 3 martyrs, including a child, as a result of Israeli occupation forces bombing displaced persons' tents in Deir al-Balah in the central Gaza Strip.
Israeli media: Yedioth Ahronoth: Concern in "Israel" over changes within the US administration in recent days.
Al-Qassam Brigades says its fighters are engaging in fierce clashes with the occupation forces, killing and wounding soldiers east of Jabalia camp.
Israeli media platforms are circulating preliminary reports about a multi-causality ambush in Jabalia camp, Gaza.
Al Mayadeen's correspondent: 35 martyrs, 75 injured in occupation targeting of civilians seeking food aid in Rafah, Khan Younis, southern Gaza.
Da Silva: What is happening in Gaza is not a war, it is a genocide
Da Silva: Even the Jewish people do not want this war; it is revenge by a government against the possibility of establishing a Palestinian state
Brazilian President Lula da Silva: What we are seeing is not a war between two armies. [What we have is a] completely professional army that is killing women and children in the Gaza Strip.
Hamas: We affirm our readiness to immediately begin a round of indirect negotiations to reach an agreement on the points of contention
Hamas: We welcome the continued Qatari and Egyptian efforts to end the war waged by the Zionist occupation against our people

Microsoft's valuation surpasses Apple's in two-year first

  • By Al Mayadeen English
  • Source: News websites
  • 13 Jan 2024 10:29
3 Min Read

Microsoft has secured the world's highest valuation to Apple's downturn, driven by low demand for smartphones.

  • x
  • Microsoft's valuation surpasses Apple: 1st time in 2 Years
    Microsoft CEO Satya Narayana Nadella speaks during a so-called Fireside-Chat with the CEO of German carmaker Volkswagen (unseen) in Berlin, Germany, on February 27, 2019. (AFP)

Microsoft's stock market value ended Friday's trading session higher than that of Apple for the first time since 2021, making it the world's most valuable company.

Although Apple's shares have seen a substantial decline in valuation at the start of the year, its shares crept up by 0.2% on Friday, while its market capitalization was $2.875 trillion on Thursday. However, Microsoft's shares saw a larger increase of 1% on Friday, raising the company's capitalization to $2.887 trillion, according to LSEG data.

Overall Apple's shares have seen a 3% hit in 2024, due to concerns about smartphone demand, a few months after it launched its all-new iPhone 15. On the other hand, Microsoft shares have seen a 3% overall increase, due to successful investment in the artificial intelligence sector, specifically in OpenAI, which launched ChatGPT in November 2022.

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Investing heavily in AI

As the company' encroached on its third straight quarter of falling revenues, in August 2023, Apple CEO Tim Cook stated that the corporation would be investing extensively in artificial intelligence (AI). The announcement coincided with the company's worst sales numbers since 2016 and did little to push up its valuation, from a presenting downward trend.

Cook told Reuters that the increased Research and Development (R&D) investment was driven in part by work on generative artificial intelligence, the same sector that is driving spending at Alphabet and Microsoft.

According to a recent report by The Guardian, decreased demand in China for Apple's most recent product, the iPhone 15, has driven realized sales down, which comes in part due to the resurgence of Huawei in local markets. The Chinese tech company faced harsh sanctions by the United States, after acquiring a substantial 13% market share in 2018, marking unprecedented numbers in a highly-contested market. US sanctions banned the phone maker from accessing essential software and hardware, which would have kept it up-to-date with industry leaders. 

Recently, the company resurfaced after launching its flagship Mate 60 Pro smartphone, which utilizes the all-new 5G-capable Kirin 9000s chip. Powering its device with an advanced 7-nanometer processor, dubbed Kirin 9000S, highlighted the Chinese company's willpower to overcome US bans and restrictions.

Read more: Microsoft to fire 10,000 employees in 5% workforce cut: Reports

  • iPhone 15
  • ChatGPT
  • openAI
  • Stock market
  • Apple
  • Huawei
  • Microsoft

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