A number of news outlets reported over the weekend that Microsoft briefly overtook Apple as the most valuable U.S. company. This followed several weeks of precipitous declines for Apple, which has seen billions of dollars wiped off its market cap.
In fact, Apple continues to lead Microsoft with a valuation of $817.6 billion to Microsoft’s $791 billion. The incorrect reports were caused by confusion about Apple’s number of outstanding shares, used to calculate market cap. Microsoft is definitely getting closer, though!
