Friday, May 28, 2010
Apple Ousts Microsoft as Technology Company with the Biggest Market Cap
Posted by Jason Dunn in "Windows Phone News" @ 04:30 PM
"In the less-than-three months since Apple first passed Wal-Mart to hold the third highest market capitalization among U.S. companies, Apple's stock price has continued to increase while second-place Microsoft has seen its shares drift downward. The combination of events has quickly closed the gap between the two companies, and today Apple finally surpassed Microsoft in market capitalization for the first time in 20 years, although second-by-second fluctuations currently see the two companies frequently swapping positions."
This happened two days ago, but the results are still basically the same: Apple is now worth more than Microsoft. Looking back a decade or so, I doubt anyone could have predicted this - Apple was on the verge of going bankrupt, and Microsoft had more money than they knew what to do with. Microsoft is still worth a great deal in terms of market cap, but so is Apple. Personally, the stock market puzzles me - it's irrational and often ignorant. Microsoft posted some stunning results last quarter, earning a huge bump in profit, and their stock barely blipped. Not a great time to be a Microsoft shareholder (which I am, in a small way).