To be honest, Apple might be surpassed this time.

A glance at the recent data compared to Google and Microsoft makes it clear - Apple's revenue has only increased by 7.4% over three years, while Google has risen by 37% and Microsoft by 44%. What's the problem? Apple has completely fallen behind in AI and even has to spend $1 billion each year to use Google's Gemini to upgrade Siri.

Google's Gemini users have reached 650 million monthly active users, with a 34% annual growth in cloud services, and 70% of customers are using Gemini. Microsoft is even more aggressive, with Azure seeing a 39% annual growth, and Anthropic alone has committed to investing $3 billion in Azure.

The most heartbreaking thing is the valuation - Apple's P/E is 36 times, Microsoft's is 34.5 times, and Google's is 29 times. This means that Apple is growing the slowest while having the highest valuation. Following this trend, by the end of 2026, Apple may really be surpassed by these two companies.