As Apple's price falls, Microsoft becomes the world's most valuable company.

Apple declined 1.8 percent after reporting fourth-quarter revenue, while Microsoft jumped 2.2 percent to a market value of $2.49 trillion.

Apple Inc.'s stock plunged on Friday, propelling Microsoft Corp. to the top of the world's stock market by market capitalization.

Apple's stock dropped 1.8 percent after it reported fourth-quarter revenue that fell short of analysts' expectations, giving the iPhone maker a market worth of $2.46 trillion. After announcing earnings that beat expectations for the 11th quarter in a row earlier this week, Microsoft surged 2.2 percent to a market value of $2.49 trillion, surpassing Apple.

In a phone interview, Michael Matousek, chief trader at U.S. Global Investors, said, "If you're looking for safety in tech, Microsoft probably sounds like a safer choice to me than Apple." "In the event of a downturn in the economy, I expect Microsoft will fare better because its products are more diverse across a wider range of industries."

Microsoft last dethroned Apple in the first half of 2020, when investors flocked to growth stocks in the wake of the Covid-19 epidemic. Microsoft's weekly rise was its highest since November.