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)
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