Microsoft Nabs Apple's Crown

Microsoft Nabs Apple's Crown

Apple is no longer the largest U.S. company by market capitalization. As of this morning, that trophy belongs to Microsoft.

Apple currently has a market cap of $3.16 trillion, according to Dow Jones Market Data. That's second to Microsoft, which has a market cap of $3.19 trillion. Nvidia is third on the list, with a market cap of $2.76 trillion.

Microsoft overtook Apple today. Shares of the Seattle-area tech firm were surging after Microsoft reported better-than-expected financial results and provided strong guidance for cloud growth. Microsoft stock is up 1.9% this year.