A steep selloff of Apple stock—amid fears of lagging iPhone and iPad sales—has the company’s valuation down around US$850 billion, just months after it crossed the US$1-trillion threshold. It is now neck-and-neck with Microsoft, which on Wednesday afternoon briefly re-took the title of world’s most valuable company following a 16-year hiatus. Many analysts believe Microsoft will soon be in pole position for the crown, which Apple has held since passing Exxon Mobil in 2012. (CNBC)

Talking point: Microsoft’s reputation is as a software company, but it has expanded into new areas. Its bullish investors cite its advances in gaming and cloud technology as reasons to be optimistic. Meanwhile, analysts who think Apple will turn its recent streak around cite the last time its stock took a dive: after falling 30 per cent from February 2015 to February 2016, Apple surged 150 per cent to its 200-day high. And, the company’s 200-day average stock price of US$194 is also only 11 per cent above its valuation this week.