[pchelpers] News:Apple passes Microsoft to be biggest tech company
- From: John Durham <john.modec@xxxxxxxxxx>
- To: pchelpers@xxxxxxxxxxxxx
- Date: Thu, 27 May 2010 14:21:37 +1200
Apple has pushed past arch-rival Microsoft to become the world's biggest
technology company.
Changes in the share price values of the two in Wednesday's choppy
trading left the total value of Apple at $222bn (£154bn).
Microsoft is now valued by investors at $219bn.
The worth, known as market capitalisation, is calculated by multiplying
the number of shares in a company by the current share price.
Although Apple shares closed down 0.4%, Microsoft fell by 4%.
Apple, which makes computers, iPods, iPhones and now iPads, almost went
out of business in the 1990s.
Its growth is partly owing to the launch of the stylish iPod in 2001.
Its compatability with existing - but not mass-selling - Apple computers
lead customers to engage with them, just as Microsoft's products looked
set for long-term dominance.
More here: http://news.bbc.co.uk/2/hi/business/10168684.stm
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