According to the CNBC website, Microsoft is now the world’s largest listed company by market value, replacing Apple.

When US stocks closed on Friday, Microsoft’s market capitalization exceeded Apple’s. Earlier, in the intraday trading of US stocks this week, Microsoft’s market value has repeatedly surpassed Apple, but at the close, Apple’s market value eventually surpassed Microsoft.

According to the latest documents submitted by Microsoft to the US Securities and Exchange Commission (SEC), as of October 19, the company issued a total of 76,762,736 shares of outstanding shares. Microsoft’s share price closed at $110.89 per share on Friday, and the company’s market capitalization was $851.2 billion.

As of October 26, Apple issued 474,538,000 shares. Apple’s share price closed at $178.58 per share on Friday. According to this calculation, Apple’s market value is 847.4 billion US dollars.

If Microsoft can maintain the identity of the world’s largest listed company by the end of this year, it will be the first time since 2002 that it has been the world’s number one market.

(Note: The largest listed company in the world market value at the end of the year since 1998)

In August of this year, Apple’s market capitalization exceeded $1 trillion, making it the first US-listed company with the highest market value. Five weeks later, Amazon’s market capitalization also broke through the trillion-dollar mark in intraday trading, but the company never broke this threshold at the close.

In recent weeks, Apple’s share price has suffered a setback due to disappointing quarterly results released by the company on November 1 and the company’s announcement that it will no longer disclose sales of iphone, ipad and mac computers every quarter, thereby reducing its transparency. In the past month, Apple’s share price has fallen by about 16%.

At the same time, under the leadership of CEO Satya Nadella, Microsoft’s share price has tripled in the past four and a half years. Last month, its market capitalization exceeded Google’s parent company Alphabet, which has risen by about 7%. On October 1 this year, Microsoft’s closing price reached 115.61 US dollars, a record high.

Since 1925, only 11 companies have occupied the top spot in the world’s market capitalization. According to Standard & Poor’s Jones data, AT&T, formerly known as Ma Bell, has been in the position for 59 years, while IBM has 21 years. Since 2006, ExxonMobil has been the world’s largest company by market capitalization for six years. Since 2012, Apple has been the world’s largest company by market capitalization.