Apple Tops Microsoft in the Market2010-05-27 10:56 by DanielaTags: Apple, Microsoft
Wednesday afternoon marked the end of an era, as Microsoft lost its grip on the title of most valuable technology company. Apple — for now — is the new king. At the close of trading, a small decline in Apple shares combined with a 4% drop in Microsoft's stock to leave Apple’s market value ahead — at nearly $223 billion compared with about $219 billion for Microsoft. Volatile markets could realign those rankings again, but it has long been clear Apple could overtake the software maker. Over the past year, Apple's share price has nearly doubled to more than $244, as the computer and device maker has ridden a wave of success with its iPhone and new iPad. Microsoft's shares also have risen during the year as the economy and stock market have rebounded, but not nearly as dramatically as Apple’s. A year ago, Microsoft's shares closed at about $20; today they closed at about $25. The movement of Apple to the top position in market capitalization among technology companies may not be important for the companies' businesses, but it is significant symbolically. Read more -here-
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