Microsoft passes Apple as most valuable company in the world
Shares were up 3% at the end of US financial day last Friday
Microsoft overtook Apple as the most profitable company at the end of last Friday's trading session in the US.
As reported by CNBC, Microsoft's lead came as a result of an event that took place in San Francisco where the company spoke about artificial intelligence, highlighting an increase of traffic on GitHub which Microsoft acquired in 2018 for $7.5 billion.
Analysts from investment banking company Piper Sandler noted they were "encouraged by the momentum around the most mature AI products."
Microsoft's shares increased 3% to $2.89 trillion by the end of the day, while Apple's dropped by the same amount lowering its valuation to $2.87 trillion.
AI is a core part of Microsoft's overall strategy. Last month, the company was accused of using AI to promote indie games.
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