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Microsoft (NASDAQ: MSFT) passed Apple (NASDAQ: AAPL) in market capitalization on Friday. In other words, Microsoft is now the world’s most valuable publicly-traded company globally. This followed news about Apple missing earnings expectations on Thursday.

Before the market close, Microsoft’s market cap was around $2.49 trillion. Meanwhile, Apple had a market cap of about $2.46 trillion.

Apple reported on Thursday that it had missed revenue expectations in the in the company’s fiscal fourth quarter. According to the CEO of Apple Tim Cook, the company lost $6 billion due to supply chain constraints. It also expects worse supply chain problems in the December quarter.

Meanwhile, sales of iPhones surged by 47% year-over-year (YOY) although analysts predicted higher sales for it. Still, Apple’s fourth-quarter results only included a few days of the iPhone 13 sales.

On the other hand, Microsoft beat revenue expectations in its fiscal 1^st quarter. According to CNBC, this is the fastest growth since 2018. The last time Microsoft topped Apple in market capitalization was in 2020 during the Covid-19 pandemic outbreak. The virus resulted in massive supply chains issues directly impacting Apple’s production.

Apple was the first company to reach $1 trillion and a $2 trillion market cap. The company was the world’s most valuable publicly-traded company after it surpassed the oil giant Saudi Aramco.

Microsoft stock surged more than 48% year-to-date at the market close. Meanwhile, Apple’s rose by 13%.

Microsoft releases the Windows 11 upgrade

Microsoft released the Windows 11 to more computers this week. This followed the initial launch to the most recent Pcs earlier this month before the company gradually made the Windows 11 upgrade available to compatible devices.

“The availability of Windows 11 has been increased and we are leveraging our latest generation machine learning model to offer the upgrade to an expanded set of eligible devices,” says Microsoft. “We will continue to train our machine learning model throughout the phased rollout to deliver a smooth upgrade experience.”