Steve finally surpasses Bill, but less than an inch.
Apple has finally surpassed arch-rival Microsoft to become the world’s biggest technology firm.
Changes in the share price values of the two in wednesday’s choppy trading left the total value of Apple at $222bn (£154bn) while Microsoft is now valued by investors at $219bn.
The worth, known as market capitalization, is calculated by multiplying the number of shares in a company by the current share price. Although Apple shares closed down 0.4%, Microsoft fell by 4%.
Apple, which makes computers, iPods, iPhones and now iPads, almost went bankrupt in the 1990s. Its successful growth is partly owing to the launch of the company’s stylish and trendy iPod in 2001, which is loved by all ages and considered by many to be the only music player to get. Apple is hoping for a bigger contribution in their annual profit with this week’s launch of the iPad, the company’s new and successful tablet computer that sold millions in the States, in UK and eight other countries.
Next month Apple will be unveiling the next generation of the iPhone, the company’s smartphone that has brought internet access on the move to the mass market, and led to an explosion in downloadable mobile “apps” – applications that enable a huge range of activities, from map reading to booking restaurants. Apple’s iPhone has set a new standard in the market of smartphones, and many have seen the iPhone as the default phone to get.
The last time Apple was ahead of Microsoft was back at 1989, which is a long way. Microsoft, whose operating system runs on more than 90% of the world’s personal computers, has not been able to match growth rates from its hey-days of the 1990s, although its last sales figures were still higher than Apple’s.
[via Bloomberg Businessweek]