Microsoft surpassed Apple as the world’s most valuable company in the world. reclaiming the number one spot after more than 15 years.
Microsoft has a market value of more than $851 billion and Apple has a value of $847 billion. Apple had taken the number one spot from Exxon Mobil in 2011. Microsoft was number in 2002, 1999, 1998.
Apple Fell on Tariff Fears But There is a Temporary Deal
Apple has shares have dropped more than 25% since October over fears of additional US tariffs on Chinese-made goods.
Apple will probably regain the number one title because of the stopgap trade deal between China and the USA. There will be no new tariffs on Jan 1, 2019. New tariffs are suspended while China and the USA negotiate a trade deal.
Nextbigfuture believes there will be full trade deal sometime in 2019. I believe China recognizes that it is currently in the weaker position. President Trump is motivated to have a deal well in advance of the 2020 election process. Therefore, both sides are motivated to make some form of deal. The deal may not be great or long-lasting.
There is lot that both sides are willing to do as the basis for an agreement. China is willing to buy US natural gas and soybeans in large quantities. This was being offered earlier in 2018. The main sticking points is the intellectual property related issues.
President Trump has agreed that on January 1, 2019, he will leave the tariffs on $200 billion worth of product at the 10 percent rate, and not raise it to 25 percent at this time. Over the next 90 days, American and Chinese officials will continue to negotiate lingering disagreements on technology transfer, intellectual property and agriculture.
China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries. China has agreed to start purchasing agricultural product from our farmers immediately,” the White House said.
Xi also plans to designate Fentanyl as a controlled substance, according to the statement. As the U.S. opioid crisis continues to rage, it would suggest that people selling the drug to parties in the U.S. would be subject to stiff penalties in China.