As of Wednesday afternoon, Apple has overtaken Microsoft as most valuable technology company. At the close of trading, Apple was valued at nearly $223 billion compared with Microsoft’s $219 billion.
The rankings could of course change, but for now, Apple is ahead, which is not surprising due to the company’s recent success due to the iPhone and the iPad. Apple’s share price has risen dramatically over the past year to $244. Microsoft’s has also risen, but not as dramatically: a year ago, its shares closed at $20, today they closed at $25.
Microsoft and Apple have had a rivalry for years. Microsoft was the dominant company for a long time but it appears now that the tables have turned. The iPod and iPhone have helped facilitate Apple’s rise as a true technology giant that has become a lot more successful than Microsoft. As Apple has grown, it has faced problems and criticism for its policies.
Via The Wall Street Journal.