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Posted by on May 26, 2010 in Technology, TG Roundup

Apple is the New King of Tech

Apple Dethrones Microsoft As World’s Biggest Tech Company

[Via Huffington Post]

SEATTLE — Apple has surpassed Microsoft as the largest technology company in the world by market capitalization.

Apple’s move comes as the company’s iPhone, and now its iPad tablet computer, have taken on more of the personal computing tasks once handled by computers running Microsoft’s Windows operating system and other programs.

Market cap is the dollar value of a company’s outstanding shares. On Wednesday, Apple Inc.’s shares slipped $1.11 to close at $244.11, making its market cap about $222 billion.

But Microsoft Corp.’s stock fell $1.06, or 4.1 percent, to close at $25.01, for market cap of about $219 billion.

The only U.S. business with a higher market value is Exxon Mobil Corp. The oil company’s market cap is about $279 billion, based on Wednesday’s closing price of $59.31.

3 Comments

  1. Technology specks….
    No Brand ambassador, only technology…
    Only one market segment customers [high end customers]

  2. Mohan garu, this is “NEWS” to investment community, however Apple’s time at the top will be not long. Android is eating its iPhone lunch faster than they make new iPhone versions. In the past we have seen competitors fail to match Apple. Not this time though, Google, RIMM and HP are fighting Apple tooth and nail.
    For us consumers these are the best of the times in tech.

  3. Is it me or did this article make you want to buy an iPad?