Forget Apple: This “Magnificent Seven” Stock Could Be the World’s Biggest Company in 2024
From Nasdaq:
Apple has been valued at over $3 trillion, making it the world’s most valuable business. But Microsoft, with a market cap of $2.73 trillion, is poised to take the top spot. Its stronger growth and business momentum give the company an edge over Apple. Microsoft has been delivering more significant improvements for its Azure cloud infrastructure platform.
Apple has recorded revenue of $89.5 billion but has experienced several quarters of declining sales. In comparison, Microsoft has had stronger business momentum and demonstrated more impressive growth. Microsoft’s potential for superior profits in the near future gives it a competitive advantage over Apple.
Microsoft’s more software-focused nature gives it a financial edge over Apple. While Apple’s most recent innovations have been iterative, Microsoft’s cloud infrastructure and AI technology position the company for continued growth. It is widely expected that Microsoft will overtake Apple as the world’s most valuable company in the near future.
The Motley Fool Stock Advisor team identified 10 best stocks for investors to buy now, and Apple wasn’t one of them. The service has tripled the return of S&P 500 since 2002. Despite Microsoft’s rising prominence, Apple remains a strong long-term investment. However, should you invest $1,000 in Apple right now, consider the potential to diversify your investment portfolio with other high-performing stocks.
Read more: Forget Apple: This “Magnificent Seven” Stock Could Be the World’s Biggest Company in 2024