No, that headline isn't a typo. As the Associated Press reports, Apple's market capitalization surpassed Microsoft's on Wednesday, making the Mac maker the highest-valued technology company in the entire world.
The AP jotted down all the details:
Market cap is the dollar value of a company's outstanding shares. On Wednesday, Apple Inc.'s shares slipped $1.11 to close at $244.11, making its market cap about $222 billion. . . . But Microsoft Corp.'s stock fell $1.06, or 4.1 percent, to close at $25.01, for market cap of about $219 billion.
The news agency goes on to say only one U.S. company has a higher market capitalization than Apple now: oil-and-gas giant Exxon Mobil. In terms of revenue, though, Apple still has a ways to go before catching up to Microsoft—the two companies raked in $42.9 billion and $58.4 billion, respectively, for 2009.
Surpassing Microsoft's worth is still quite an achievement. In 1997, right around the time Steve Jobs returned to the company as interim CEO, Apple had dwindled almost to the point of irrelevance. That same year, Dell CEO Michael Dell famously said when asked what could be done to fix Apple, "I'd shut it down and give the money back to the shareholders." These days, Apple racks up hugely profitable quarters and sells tens of millions of iPods and iPhones every year.
|Gigabyte's Z170X-Gaming G1 motherboard reviewed||7|
|Star Wars Battlefront video review||37|
|Club 3D active adapters convert DisplayPort 1.2 to HDMI 2.0||20|
|Phanteks' Power Splitter lets two systems run on one PSU||43|
|Just Cause 3 system requirements won't blow up your wallet||27|
|Biostar's GeForce Gaming GTX 950 glows a fiery red||22|
|Asus updates Zenbook UX305 with a Skylake Core M CPU||58|
|Shuttle XPC Nano's svelte body is clad in black and gold||19|
|AMD ends driver support for non-GCN Radeon cards||86|
|This is the answer to SSK's question on the Firefox news post.||+32|