Both phones boast impressive upgrades in features to earlier versions
A surge in Microsoft Corp's shares nearly unseated Apple as the world's most valuable company on Wednesday, a day before the iPhone maker reports its quarterly results.
Fuelled by strong quarterly growth in its Azure cloud-computing business, Microsoft's shares jumped 4.2 per cent to end at a record $323.17, elevating the software maker's market capitalisation to $2.426 trillion, just short of Apple's $2.461 trillion valuation, according to Refinitiv data.
Apple's shares dipped 0.3 per cent ahead of its report due after the bell on Thursday, with investors focused on how the global supply-chain crisis is challenging the company's ability to meet demand for its iPhones.
Microsoft's stock has rallied 45 per cent this year, with pandemic-induced demand for its cloud-based services driving sales. Shares of Apple have climbed 12 per cent in 2021.
Apple's stock market value overtook Microsoft's in 2010 as the iPhone made it the world's premier consumer technology company.
The two companies have taken turns as Wall Street's most valuable company in recent years, with Apple holding the title since mid-2020.
In its report late on Tuesday, Microsoft forecast a strong end to the calendar year thanks to its booming cloud business, but it warned that supply-chain woes will continue to dog key units, such as those producing its Surface laptops and Xbox gaming consoles.
Analysts on average expect Apple to report September-quarter revenue up 31 per cent to $84.8 billion and adjusted earnings per share of $1.24, according to Refinitiv.
Both phones boast impressive upgrades in features to earlier versions
Package offers 10GB of data that can be used to access apps
Update could let users to add image, video, GIF to their posts
The 164-page filing was submitted as being "confidential," meaning the documents were not accessible by the public
Respondents say they encountered them while using digital banking or mobile wallet services
The slump is hurting sales of advertising, accessories and home products
Changes included playing up short-form video, displaying it full-screen, and recommending posts from strangers
Online shoppers increasingly opting for Buy Now Pay Later (BNPL) services when purchasing various products and services