The high tariffs have once again made Microsoft the world's highest valued company

After years of Apple being the world's highest valued company, Microsoft overtook them last year. But not for long and they were passed by both Nvidia and then Apple again.

However, the recent tariff chaos from the US has really hurt Apple, which as we know has very high production in China, not least of iPhones. China has been penalised with extremely high tariffs and on Tuesday evening the Trump administration confirmed that 104% tariffs are now in effect.

As CNBC reports, all this has now led to Apple falling an unimaginable 23% in the past week, as there is a high risk that Apple will have to charge extremely high prices for its products in the US. Microsoft, which lives more off software, has not been affected in the same way and has "only" fallen around 7% and as a consequence, it is now the Xbox manufacturer Microsoft that is once again the world's highest valued company.

Whether Apple manages to regain the throne or not in the near future, is likely to depend on whether the tariff war continues, because with 104% tariffs on all Apple products in the US, they are likely to be so expensive that even the most loyal fans won't be interested.