In early trading on Thursday (January 11), Microsoft (MSFT.US) briefly surpassed Apple (AAPL.US) and became the listed company with the highest market value. But then Apple quickly rebounded and regained this "throne." This could happen again later this week due to share price volatility. This comes after Apple encountered a series of challenges at the beginning of the year.

In early trading on Thursday, Microsoft shares rose nearly 1%, giving it a market value of about $2.87 trillion, while Apple shares fell by a similar amount, with a market value of $2.86 trillion.

Last week, Foxconn, the Chinese assembler of Apple's iPhones, reported a year-over-year revenue decline, and media reports said the U.S. Department of Justice was preparing to launch an antitrust case later this year. In addition, both Barclays and Piper Sandler downgraded Apple's stock ratings.

Concerns about iPhone sales have heightened analysts' views on Apple, which has remained the most valuable by market value for 539 consecutive days. Experts believe Microsoft has greater profit potential than Apple due to its progress in artificial intelligence, including its investment in ChatGPT.

Also last week, Microsoft announced it would be introducing a "Copilot" key on its keyboards to give users quick access to its AI assistant.

Microsoft stock has risen 57% in 2023, in part on investor hopes that the software maker will expand by selling artificial intelligence services to enterprises. During the same period, Apple stock rose 48%.

Microsoft also surpassed Apple for a time in 2018 and 2021, becoming the listed company with the highest market value. But two years ago, Apple became the first company with a market value of more than $3 trillion. Saudi Aramco also briefly claimed this title, before it was regained by Apple. Apple held this title for a year and a half.

Microsoft has also performed slightly better than Apple over the past year. In 2023, Microsoft stock is up 57%, while Apple is up 48%. Apple relies on iPhones for about half of its revenue, while Microsoft used to rely on its Windows software but now also makes money through cloud computing and devices such as Surface computers.

Analysts say slowing sales in China are Apple's biggest problem, as rivals such as Huawei chip away at market share.

As of Thursday's close, Microsoft rose 0.49% to $384.63; Apple fell 0.32% to $185.59.