Microsoft stock or Apple shares: Which is the world's largest company after Trump's tariffs?

The tariff policies of US President Donald Trump seem to be the only thing the global markets have been fixated on over the past two weeks.Since 'Liberation Day' on 2 April, markets all around the world, including the ASX, have been on a savage rollercoaster ride. Down 4% one day, up 8% the next.

.. It can be enough to give anyone watching a severe case of whiplash.



But these new tariffs, or the absence thereof, have some other consequences that might go unnoticed at first glance.One such consequence has been the shifting title of 'world's most valuable company'.This prestigious title has been held by Apple Inc (NASDAQ: AAPL) for many years now, with the occasional, yet brief, challenger.

In recent years, the iPhone maker's chief rival for this title has been none other than its tech archrival, Microsoft Corporation (NASDAQ: MSFT). Aside from a brief surge from Saudi oil giant Saudi Aramco a few years ago, it's largely been a two-horse race for a while now.But Trump's tariffs have shaken that up.

Apple shares and Microsoft stock play musical chairsThanks in large part to Apple's heavier reliance on the sale of physical goods, not to mention the tech giant's complex supply chain web, investors have, probably accurately, assumed that the new tariffs would hit the company far harder than Microsoft. After all, Microsoft's most successful products, whether that be Xbox games, its Office suite, or its Windows operating system, are mostly digital these days.To illustrate, the Apple stock price tanked by a whopping 9.

25% after the Liberation Day tariffs were revealed. In contrast, Microsoft shares dropped a far tamer 2.36%.

Between 2 April and 8 April, Apple fell by 22.99%. Microsoft fell 7.

22% over the same period.This resulted in Apple losing its crown as the world's largest company for the first time in a very long time.However, it didn't last very long.

Just as Apple's fall was more severe than Microsoft's, its recovery in recent days has been more dramatic. Since 8 April, the Apple share price has rebounded 10.44%.

Microsoft has rallied 7.56% over the same time span.So, as of the time of writing, Apple has reclaimed its crown.

It currently commands a market capitalisation of US$2.86 trillion, just a whisker (US$300 billion or so) above Microsoft's US$2.83 trillion.

As such, buying a US-markets index fund like the iShares S&P 500 ETF (ASX: IVV) today will result in $6.44 out of every $100 going into Apple shares and $6.26 going into Microsoft stock.

Let's see if any future market uncertainty, or perhaps upcoming earnings, dethrones Apple once again.The post Microsoft stock or Apple shares: Which is the world's largest company after Trump's tariffs? appeared first on The Motley Fool Australia.Wondering where you should invest $1,000 right now?When investing expert Scott Phillips has a stock tip, it can pay to listen.

After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now.

.. See The 5 Stocks*Returns as of 3 April 2025(function() { function setButtonColorDefaults(param, property, defaultValue) { if( !param || !param.

includes('#')) { var button = document.getElementsByClassName("pitch-snippet")[0].getElementsByClassName("pitch-button")[0]; button.

style[property] = defaultValue; } } setButtonColorDefaults("#0095C8", 'background', '#5FA85D'); setButtonColorDefaults("#0095C8", 'border-color', '#43A24A'); setButtonColorDefaults("#fff", 'color', '#fff');})()More reading US reporting season kicks off tonight Why shares of Apple are skyrocketing after one of its worst 4-day stretches in 25 years Why is the NDQ ETF rocketing 11% today? How to turn $10,000 into $1 million with ASX ETFs S&P 500 Index reaches 1 year low: Are you looking to buy US focused ASX ETFs?Motley Fool contributor Sebastian Bowen has positions in Apple and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, Microsoft, and iShares S&P 500 ETF.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Apple, Microsoft, and iShares S&P 500 ETF.

The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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