Microsoft surpassed Apple to become the world’s most valuable publicly traded company. All it took was a $300bn rout.

After briefly claiming the top spot on Monday, Microsoft shares rose 0.6% Tuesday, pushing the company’s market value to $828.1bn at the close. That exceeded by more than $1bn the value of Apple, which has tumbled in November on concern about iPhone unit sales. The last time Microsoft’s market capitalisation was bigger than Apple was in 2010, according to data compiled by Bloomberg.

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