CURRENT AFFAIRS

Detailed explanation-1: -Microsoft surpassed Apple’s market cap on Friday to become the world’s most valuable public company.

Detailed explanation-2: -With a market cap of ₹1, 563, 887 crores Reliance Industries leads the Indian Industries with the highest market cap. The multinational conglomerate company is headquartered in Mumbai and engages in a range of businesses in the textiles, telecommunications, retail, natural resources, and petrochemical sectors.

Detailed explanation-3: -Market Cap is an important metric in ascertaining the comparative value of firms with regard to trading opportunities. With its market capitalization of $2.64 trillion, Apple ranks as the largest company in the world in 2022 followed by some most recognizable brands like Saudi Aramco, Microsoft, Alphabet and Amazon.

Detailed explanation-4: -The World’s Largest Public Companies in 2022 Despite the tech downturn of 2022-driven by rising interest rates and slower sales-Apple maintained its top spot. This was largely thanks to record revenues and healthy consumer demand for iPhones, which drive about half of its total revenue. Following Apple is Microsoft.

Detailed explanation-5: -Both tech giants’ market caps blew past the $1 trillion mark over the past few years. Microsoft’s valuation eclipsed Apple’s numerous times during that ascent, but Apple’s current market capitalization of $2.5 trillion now puts it comfortably ahead of Microsoft’s valuation of $1.8 trillion.