Microsoft tops m-cap table with $3.2 trillion; pushes Apple with $3.07 trillion to second spot
Nvidia came in third with a valuation of $2.76 trillion, according to The Information's newsletter. Microsoft shares have consistently outperformed Apple's throughout the year, reflecting growing investor confidence in its AI and cloud strategy. Meanwhile, Apple faces pressure from new tariffs, driving an 18% drop in its share price.
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Microsoft ended the week as the world's most valuable company, reaching a market valuation of $3.235 trillion. It surpassed Apple, which had long held the top spot, closing Friday with a market cap of $3.07 trillion.Nvidia came in third, with a valuation of $2.76 trillion, according to The Information's newsletter. Microsoft's stock jumped on Thursday after the company reported strong financial results for the March quarter, beating analyst expectations. Satya Nadella , Microsoft's CEO, said on a call with investors that demand for cloud and artificial intelligence (AI) remained strong.Microsoft shares have consistently outperformed Apple's throughout the year, reflecting growing investor confidence in its AI and cloud strategy.The last time Microsoft saw such a big post-earnings stock surge was in October 2015, when revenue from its early Azure cloud business more than doubled, causing shares to soar by 10%, according to Investopedia.Apple's performance also beat expectations in the first quarter , driven by strong iPhone sales. However, new tariffs introduced under President Donald Trump have weighed heavily on the company.With a supply chain that depends heavily on imported components, Apple is particularly exposed to the impact of tariffs. Its share price has dropped 18% since the start of the year—one of the steepest declines among major tech players.In addition, chief executive Tim Cook said that unless conditions change, Apple expects an additional $900 million in costs this quarter due to the tariffs.According to Dow Jones Market Data, Apple's drop in market value is the largest for any company at the start of this year, as reported by NewsMax.Among the major tech firms, only Tesla has experienced a sharper fall, with its shares down 29% year-to-date.
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India Gazette
an hour ago
- India Gazette
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China is pursuing a strategy that aligns with its regional interests - including economic engagement, defense cooperation, and influence-building. This strategy, logically, includes efforts to slow down India's rise. Pahalgam incident thus cannot be seen an isolated terrorist attack, but as a signal within a larger geostrategic landscape that is shaping Asia's future. Strategic Timing The flareup in South Asia has come at a time of major geopolitical developments. With the mass shift of Western companies like Apple away from China to India, India is poised to become the next big manufacturing hub. As global businesses explore alternatives to rising operational costs and geopolitical uncertainties in China, India is increasingly seen as a competitive option. Additionally, the proposed US tariffs may add pressure to China's manufacturing sector, which is already adapting to evolving global supply chains. For the strongman leader, Xi Jinping, sustaining economic growth and employment remains a top priority. Any escalation involving India could introduce uncertainty that might affect investor sentiment and infrastructure momentum. Regional instability could redirect global attention away from India's growth narrative toward internal and border-related concerns. China's close political, economic and defence ties with Pakistan - an economically vulnerable partner - gives Beijing a certain level of influence on the way Islamabad deals with India. New Delhi was compelled to act militarily, risking escalation and economic fallout. To India's credit, it managed to negotiate a ceasefire after achieving its key objectives of affecting 11 Pakistani air bases and nine terrorist camps and other strategic terrorist infrastructures against the popular sentiment against de-escalation. Economic factor Pakistan has been struggling with near to bankruptcy. Its foreign exchange reserves have fallen to $4.3bn, its lowest levels since February 2014. Despite a $2.4 billion bailout from the IMF - approved on May 9, when Islamabad and New Delhi were firing missiles at each other - the Pakistani economy is still in tatters. China's offer of financial and military aid to Islamabad at such times comes in more than handy. China's support for Pakistan is not circumstantial. It is also institutional and deeply entrenched. Between 2014 to 2024, China sold over $9 billion worth of advanced weaponry to Pakistan, accounting for around 80% of imported weapons, including J-10CE fighter jets, Wing Loong drones, LY-80 air defence systems, and naval assets. The operational use of these systems in the recent conflict, including Pakistani claims of downing Rafales using Chinese PL-15 missiles, has allowed Beijing to showcase its weapons systems in live combat. Beyond India, China's motivation also ties into its long-term strategic objectives in the Persian Gulf. Pakistan provides China access to the Arabian Sea via Gwadar port, a linchpin in the China-Pakistan Economic Corridor (CPEC) and part of the broader Belt and Road Initiative. This maritime access offers China two significant advantages: a strategic military presence near key Middle Eastern shipping lanes and an alternative route for oil imports in case of a US-China maritime standoff in the South China Sea. Military-Industrial Complex benefits China's defence industry is another big beneficiary of the escalation. Claims by the Pakistan Air Force that Chinese-made jets outmanoeuvred India's French-built Rafales, regardless of their authenticity, have created a nationalist fervour in Chinese social media and boosted investor confidence. Stocks in Chinese defence manufacturers surged as hashtags like "J-10 shot down Indian warplanes" trended online, and praise for the PL-15 missile system flooded Weibo. Indeed, Beijing wants to use this as an inflexion point for its arms export ambitions. With Western suppliers often constrained by political alignments or human rights concerns, China's relatively unrestricted military exports offer an attractive alternative, especially in conflict-prone or authoritarian regimes across Africa, the Middle East, and parts of Asia. A perceived successful battlefield performance strengthens China's pitch as a reliable arms supplier. From shaping regional dynamics to advancing its defense exports and maintaining strategic interests in West Asia, China may perceive certain advantages in the current situation in the region. While the Pahalgam attack was carried out by terrorist actors, it may also reflect broader regional undercurrents in which multiple stakeholders play complex and calculated roles. Through India-Pakistan rivalry, China is executing a proxy strategy that would halt India's rise, safeguard its own economic interests and bolster its defence exports and regional clout. Beijing has much to gain and little to lose from this rivalry - as long as it stays just below the threshold of full-scale war.
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Trump tax bill to add $2.42 trn to US deficit: Congressional Budget Office
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