Technology
Microsoft Edges Past Apple to Become World’s Most Valuable Company
On Friday, Apple lost its crown as the world’s most valuable listed company due to the iPhone maker’s share price falling about 2%. Due to continuing global supply chain problems, Apple suffered a loss of US$6 billion (approximately Rs 44,940 crore) in its fourth-quarter sales, which failed to meet Wall Street’s expectations. The top boss Tim Cook said that the impact of the current holiday sales quarter will be more serious.
Sophie Lund-Yates, an equity analyst at Hargreaves Lansdown, said: “Compared with FAANG peers who are less concerned about hardware, Apple is also more susceptible to supply chain disruptions.” Apple’s shares fell 1.8% to close at $149.80 (about 11,200). rupee). ), bringing the company’s market value to 2.48 trillion U.S. dollars (approximately 185,752.20 billion rupees). In contrast, Windows software maker Microsoft’s stock price rose 2.2% to a record high of US$331.62 (approximately 24,800 rupees), with a market value of US$2.49 trillion (approximately Rs 1,8649,489 crore) at the close.
Over the years, Apple has repurchased shares worth 421.7 billion U.S. dollars (approximately Rs 31,531.86 billion) and announced a large-scale share repurchase of USD 90 billion (approximately Rs 6,740.77 billion) in April. As a result, the pool of outstanding shares continued to shrink, and the company held 16.4 billion shares at the end of the fourth fiscal quarter. Microsoft’s stock price has soared 49% this year, and demand for its cloud-based services caused by the pandemic has boosted sales.
So far this year, Apple’s stock price has risen by 13%. Apple’s stock market value surpassed Microsoft in 2010 because the iPhone made it the world’s premier consumer technology company. In recent years, these companies have taken turns to become the most valuable companies on Wall Street, and Apple has maintained this title since mid-2020.
Analysts said that Apple has managed supply chain issues well, but as Cook warned that it will face greater pressure, its performance may be impacted as the holidays approach.
In contrast, Microsoft on Tuesday predicted a strong end to the calendar year. But it also warned that supply chain issues will continue to plague key departments, such as those that produce Surface laptops and Xbox game consoles.
News Source : Gadgets 360
In News
SpiceJet announces 8 new flights to connect Jaipur with Varanasi, Amritsar and Ahmedabad
SpiceJet expands its domestic network with 8 new flights that will connect Jaipur with Varanasi, Amritsar and Ahmedabad and also link Ahmedabad with Pune.
SpiceJet is further expanding its domestic network with the launch of eight new flights starting November 15.
In the statement released on Wednesday, the airline announced that these new routes will connect Jaipur with Varanasi, Amritsar and Ahmedabad, while also linking Ahmedabad with Pune. This expansion follows the recent launch of 32 new flights in October 2024, including two international flights connecting Delhi with Phuket.
Last month, SpiceJet also commenced UDAN flights linking Shivamogga in Karnataka with Chennai and Hyderabad, and introduced double daily flights between Chennai and Kochi, enhancing connectivity across key regional and metropolitan cities.
“We are excited to announce the launch of new flights from Jaipur to Varanasi, Amritsar, and Ahmedabad, as well as from Ahmedabad to Pune, providing our passengers with greater flexibility and convenience,” SpiceJet Chief Business Officer Debojo Maharshi said.
“These new flights reflect our commitment to supporting passenger demand across tier-II cities and beyond. With our expanded winter schedule, including international and UDAN routes, we aim to provide our customers with greater convenience, affordability, and seamless travel experiences,” Maharshi added.
SpiceJet will deploy its 78-seater Q400 aircraft in these sectors. Bookings for the new flights are now open and tickets are available at the website of the airline, SpiceJet’s mobile app and through online travel portals and travel agents.
On Monday, the airline received a significant boost, with Acuite Ratings & Research Limited upgrading its long-term rating by four notches to ‘B ‘ and its short-term rating to A4. The rating agency has also assigned a ‘Stable’ outlook to the airline.
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