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Microsoft swipes Apple’s crown

(The author is a Reuters Breakingviews columnist. The opinions expressed are their own. Re-orders related links list.)

FILE PHOTO: Microsoft Teams app is seen on the smartphone placed on the keyboard in this illustration taken, July 26, 2021.

NEW YORK (Reuters Breakingviews) - Microsoft surpassed Apple as the world’s most valuable listed company on Friday and is now worth $2.5 trillion. The software giant took the top spot after Apple’s shares fell 3.5% amid supply chain issues affecting sales of iPhones that could linger well into the holidays. The two have swapped places before – Microsoft edged past Apple in July 2019. With Satya Nadella’s firm firing on all cylinders, it may be time to rethink membership of the FAANG-gang.

Microsoft didn’t get a look-in when Facebook, Apple, Amazon.com, Netflix and Alphabet’s Google were lumped together in an acronym to describe the highest-flying tech firms. But the Office stalwart can certainly keep pace with those members. It is expected to grow revenue for its next fiscal year 16% year-over-year to $195 billion, according to Refinitiv – faster than Netflix and Apple and on par with Alphabet.

In any case, FAANG is due for a do-over. On Thursday Mark Zuckerberg rechristened Facebook as Meta. Maybe it’s time for a new acronym – MMAANG? – or even better, no acronym at all. (By Jennifer Saba)

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