Apple crept up 0.2% on Friday, while Microsoft added 1%. With that, Microsoft's market capitalization stood at $2.887tn, its highest ever.
Microsoft is up about 3% year-to-date after surging 57% in 2023 in a rally driven in part by its lead in generative artificial intelligence through an investment in ChatGPT-maker OpenAI.
Demand in China has slumped as the country's economy recovers slowly from the Covid-19 pandemic and Huawei gains market share.