In the past four trading days, Apple's stock price plummeted 23%, which once again made Microsoft the world's most valuable listed company. As of Tuesday's close, Microsoft's market value was $2.64 trillion, while Apple's was $2.59 trillion.

While markets across the board have been hit hard by President Donald Trump's massive tariff plan, Apple has been hardest hit among tech giants because of the iPhone maker's reliance on overseas markets.

The Nasdaq has fallen 13% over the past four sessions as President Trump's decision to impose tariffs on imports from more than 100 countries stoked concerns that rising prices could lead to a recession. Analysts at UBS predicted on Monday that the price of iPhone 16 Pro Max in the United States could rise by as much as $350.

Before the recent stock selloff, Apple, Microsoft and chipmaker Nvidia all had market values ​​of more than $3 trillion.

In January this year, Microsoft released disappointing revenue expectations. Still, last week, when analysts at Jefferies cut their price targets on a number of software stocks, they wrote that Microsoft was one of those companies "we view as less exposed to tariff uncertainty."

At the beginning of 2024, Microsoft also had the highest market value among all listed companies, but Apple quickly regained this title.