Apple Passes Microsoft as Largest Tech Company
The little fruit company has climbed high.
While Microsoft may still rule the software world with its operating system and desktop software, the worlds most valuable technology company, at least when it comes down to the finances, is Apple.
According to the New York Times: In intraday trading shortly after 2:30 p.m., Apple shares rose 1.8 percent, which gave the company a value of $227.1 billion. Shares of Microsoft declined about 1 percent, giving the company a market capitalization of $226.3 billion.
This also gives Apple the second highest market capitalization among American companies. Only higher is Exxon Mobil, at $282 billion.
A venture capitalist call's Apple's rise from ashes of decades ago something remarkable. "It is the single most important turnaround that I have seen in Silicon Valley," said Jim Breyer.
NYT points to this as a sign of changing investor attitudes and the increased value of consumer tastes. While Microsoft's products still completely own businesses, Apple's products cater strongly to the consumer.