YOU'VE PROBABLY GATHERED, but tech stocks are in freefall at the moment. We're not going to go too deeply into the reasons why, but sufficed to say that some estimates put the total losses at $1bn.
They'll almost certainly recover, but the crash has brought some interesting side effects. You may also recall that earlier this year we told you that Apple, the biggest tech stock of them all, topped a $1tn valuation, on its own for the first time.
But with all this movement, those top players are snapping at each others heels, and nowhere is this more evident than yesterday, when Microsoft briefly overtook Apple as the biggest tech company by valuation.
Amazon and Google have both been top dog at different times, but yesterday's announcement of a market value for Microsoft of $813bn sees Satya Nadella's reborn company taking the lead for the first time since 2010, before dipping back down under Apple once more.
Analysts have identified the cloud business, which has grown exponentially under Nadella, as one of the main reasons it has caught up so convincingly, coupled with the feeling that Apple is treading water with new devices seeming to drive up profit margins without actually doing much new or revolutionary.
So could Microsoft take a full time lead? Maybe. The company has issues. It's previously stalwart cash cow, the Xbox is languishing behind the Nintendo Switch, and the latest version of Windows 10 has been an unmitigated, disastrous embarrassment, which the company is only getting away with because migration from Windows is not something that companies, or indeed individuals can do lightly.
Earlier this year, we heard from tech guru Tim O'Reilly, who warned that that one of the biggest problems for tech companies is that their investors demand consistent growth.
Apple and Microsoft can't boast that right now, so these figures look bad. But by any other metric, they're still frickin' loaded and that isn't going to change any time soon. μ
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