Apple’s revenue dropped short of expectations, its market value passed by Microsoft

Apple fell 3.7% before the market, and its current market value was US$2.42 trillion. It was overtaken by Microsoft (currently US$2.43 trillion), and Microsoft became the world’s most valuable listed company.

Apple released its fourth-quarter financial report. The financial report showed that Apple’s fourth-quarter net sales were 83.36 billion U.S. dollars, an increase of 29% from the 64.698 billion U.S. dollars in the same period last year; net profit was 20.551 billion U.S. dollars, compared with the same period last year. Of 12.673 billion US dollars increased by 62%. Apple’s revenue failed to meet the expectations of Wall Street analysts.

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Apple CEO Tim Cook attributed the reason to the limited supply of iPhone, iPad, and Mac beyond expectations. Microsoft’s latest financial report shows that Microsoft’s total revenue for the first fiscal quarter was US$45.3 billion, an increase of 22% over the same period last year; net profit was US$20.5 billion, an increase of 48% over the same period last year.

Moreover, Microsoft’s first-quarter revenue and profit both surpassed analyst expectations, and its single-quarter profit exceeded $20 billion for the first time.