The continued decline of Apple’s (AAPL) stock has again made Microsoft (MSFT) the world’s most valuable publicly traded company.
Apple’s share price has fallen 23% over the past four trading sessions, pushing its market capitalization to $2.59 trillion U.S. and placing Microsoft in first place with a market value of $2.64 trillion U.S.
Nvidia (NVDA) is in third place with a current market capitalization of $2.35 trillion U.S. Less than a year ago, all three companies were worth more than $3 trillion U.S.
While the entire stock market is being crushed by U.S. President Donald Trump’s tariffs, Apple’s stock is being particularly hard hit because its iPhones are made in China, which is facing a 104% import tariff from the American government.
Other hard hit technology stocks include electric vehicle maker Tesla (TSLA) and e-commerce giant Amazon (AMZN), which are also exposed to China.
The technology-laden Nasdaq Composite index has declined 13% in the past week as President Trump’s tariffs on imports from more than 100 countries has sparked fears of an economic recession.
While Microsoft is back on top in terms of market capitalization, its share price has also been beaten down in recent trading sessions.
In fact, Microsoft’s stock is down 16% over the past 12 months and currently trading near a 52-week low.
Even before Trump’s tariffs, Microsoft’s stock was hurt by poor revenue guidance and concerns over its heavy spending on artificial intelligence (A.I.) technologies.
The stock of Microsoft is currently trading at $354.56 U.S. per share.