Zee Media Bureau
New Delhi: Microsoft Corp has become the second-most valuable company in the world surpassing Energy giant Exxon. Apple Inc is the world's most valuable company.
The shares of Exxon have fallen along with the price of oil. Shares in most of the oil companies have been hit in recent weeks, as oil prices have continued to plummet.
Exxon shares slipped 0.8 per cent to $94.66 at 4 p.m. in New York on Friday, dropping for the third time in four days and reducing the overall value to $400.8 billion. Whereas, Microsoft shares climbed 1.7 per cent on Friday, pushing its capitalisation to $408.9 billion.
Apple's market capitalisation is more than $668 billion.
Under new CEO Satya Nadella, Microsoft has worked to overcome its reputation as a clumsy behemoth struggling to keep up with new tech trends and consumer habits. Nadella has cut expenses — and jobs — while pledging to refocus the company on mobile technology and cloud computing.
Investors have been pleased with Nadella's emphasis on web-based Cloud services, and his efforts to undo the mistakes of Windows 8.
