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Move over Apple, Microsoft now the world's most valuable company

Overtaking Apple: Microsoft is now the world's most valuable company.

Apple Inc (AAPL.O) lost its crown as the world's most valuable public company to Microsoft Corp (MSFT.O) on Friday, as the iPhone maker's shares fell about 2 per cent.

Apple took a $6 billion hit to its sales during the fiscal fourth quarter due to persistent global supply chain problems, leading to a miss on Wall Street expectations. Top boss Tim Cook said the impact will be even worse in the current holiday sales quarter.

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