Apple overtakes Microsoft as the World’s Biggest Tech Company

By on May 27, 2010
submit to reddit

Forces Bill Gates out of retirement.

We kid, of course, no Bill Gates is not coming out of retirement. But it just might be the right time to because of Wednesday, Apple surpassed Microsoft to become the world’s most valuable technology company based on market capitalization.

At the end of yesterday’s trading, Apple’s market value stood at around $222 billion while Microsoft suffered a loss and was pegged down to the second spot at $219 billion. Apple’s shares closed down 0.4 per cent at $244.11, while Microsoft fell 4 per cent to a seven-month low of $25.01.

“Apple is now worth more than Microsoft. It may be different tomorrow but I thought it was worth a moment of reflection today,” tweeted Apple CEO Steve Jobs

In response, Steve ‘Developers!’ Ballmer said the company has good competitors but was sure Microsoft will make more profit.

“I will make more profit and certainly there is no technology company on the planet that is as profitable as we are,” Ballmer told reporters in India recently.

To put this whole thing into a perspective somewhat, Apple nearly went out of business in 1990s and had to resort to an investment of $150 million by none other than Microsoft in 1997 to keep things floating. A little more then ten years after, Apple has managed to surpass Microsoft, with all its 90 per cent market share for Windows, Xbox division, hardware, Hotmail and myriad of other businesses, is nothing short of awe inspiring, and with only what?, an iPhone, iPod, iPad, iTunes and Macbook?


About

Mufaddal Fakhruddin is the Editor for IGN ME and thinks writing in third person about himself in an about me section is weird.

Comments
Most Read
Most Commented
Competitions
Win two Toshiba AT200 tablets

This festive season Toshiba has 2 tablets to giveaway.

Win an MSI FM2-A85XA-G65 Motherboard

Thanks to MSI we have an great AMD FM2 motherboard to giveaway.

Win a Nokia Asha 311

Thanks to Nokia we have a great entry-level smartphone to giveaway.