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(Reuters) – Four months after Apple broke the $ 1 trillion mark, the iPhone maker lost its lead as the largest Wall Street company and is about to be replaced by Microsoft .
Apple shares fell 1.77% in prolonged trade after US President Donald Trump told the Wall Street Journal that tariffs could be imposed on laptops and mobile phones imported from China.
The loss canceled the gain of 1.35% during the official trading session and brought the market value of Apple to $ 814 billion.
Microsoft shares fell 0.35% after office hours to $ 106.10, bringing its market capitalization to $ 814 billion. Microsoft had risen more than 3% during the official trading session on Monday, when the market had recorded large gains.
The market capitalization of the two companies was calculated using the outstanding shares reported in their most recent statements.
Bargaining is often volatile and lacks the volume typically observed at formal bargaining sessions.
Technological stocks have been punished in recent months by investors worried about rising interest rates and the fallout from the US-China trade dispute.
But Apple has suffered more than the other pillars of Silicon Valley, down 23 percent since the iPhone maker warned Nov. 1 that sales in the crucial quarter of the holidays are likely to miss Wall Street's expectations.
Global demand for smartphones has slowed in recent years, making it more difficult for Apple to increase its revenue.
Apple's market capitalization surpassed that of Microsoft in 2010, as the Windows software vendor faced the slow demand for personal computers, due in part to the explosion of iPhone-powered smartphones.
Since Satya Nadella took office as CEO in 2014, Microsoft has reduced its reliance on Windows-based PC software and has become a major player in cloud computing, just behind Amazon.com.
Thirty-three analysts recommend buying Microsoft shares, one with a negative rating and one neutral, according to Refinitiv data.
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