Apple Dethrones Microsoft
Long time rivals Apple and Microsoft have been battling out as the biggest technology in terms of market capitalization in the United States for as long as anybody can remember. The makers of the popular device iPad overtook the crown from the developers of the Windows OS.
Market capitalization is the price per share times the number of shares outstanding. Bill Gates’ company posted 219.18 billion dollars. This is not enough when compared to what Steve Jobs’ company has posted, which is at 222.12 billion dollars.
The overtake also put Apple as the second largest publicly owned company in the country. Only Exxon Mobil is bigger, which is enjoying a wide margin at 277.68 billion dollars.
Apple is enjoying the increase in its shares value which was specially boosted last month when iPad was released. The gadget is a big sales hit, in fact, the shares value last month stood at $272.46, its all time high.