Apple overtakes Microsoft -

Apple overtakes Microsoft

iPhone and iPad maker becomes the most valuable tech company


It turns out that the future was in hardware after all. In what some are calling a symbol of one of the most remarkable corporate turnarounds in business history, the market valuation of Apple Inc. has surpassed that of longtime rival Microsoft for the first time ever. At the close of trading Wednesday, Apple’s market capitalization reached nearly US$223 billion compared to about US$219 billion for Microsoft, which has long been the reigning tech champ thanks largely to Windows’ stranglehold on the market for computer operating systems. The change in fortunes follows Apple’s decision several years ago to bring back co-founder Steve Jobs and transform the company from a troubled maker of computers into purveyor of sleek and sexy consumer electronics devices, including the iPod, iPhone and iPad.

New York Times

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