Investing.com – Microsoft (NASDAQ:MSFT) took the title of most valuable U.S. company again Wednesday, with its market capitalization surpassing that of Apple (NASDAQ:AAPL).
Microsoft’s market cap rose to about $833.02 billion at 10:17 AM ET (15:13 AM GMT), above Apple’s figure of about $830.54 billion, according to figures from Yahoo! Finance.
Apple and Microsoft have been racing neck and neck to hold the title as U.S. President Donald Trump’s comments about tariffs on iPhones and laptops hit Apple, which had breached $1 trillion just four months ago.
Trump told The Wall Street Journal on Monday that among his plans to move ahead with tariffs on China he could place a 10% levy on iPhones imported from China.
Coming after Monday’s close, shares in Apple slid nearly 2%, falling to match Microsoft’s market capitalization of $814 billion, according to calculations made by Reuters using outstanding shares in the companies’ most recent 10-Q filings.
Tuesday saw Microsoft briefly pass Apple, reclaiming a title it had held 16 years ago, although the iPhone maker managed to recover from intraday lows to defend its crown.
According to S&P Dow Indices’ data, Apple claimed the lead in 2012 when it ousted Exxon Mobil (NYSE:XOM).