Apple surpasses Microsoft

On May 26, 2010 Apple Incorporation went past Microsoft in terms of market value and thus it has become the biggest tech company in the world. iPhone makers have been achieving milestone after milestone since 1990s, when the company almost went out of tech business. It’s no doubt one of the most remarkable recoveries in the business world till date.
Apple’s shares went up 2.8% on Nasdaq yesterday. On the other hand Microsoft shares faltered, briefly moving Apple’s market value a little above $229 billion, just ahead of company’s longtime arch rival.
At the end of the day, both stocks plunged a little following a late-day sell-off, but Apple managed to stay ahead of Microsoft with a market value of almost $222 billion, whereas that of Microsoft remained around $219 billion. Apple stocks closed only 0.4% lower at $244.11 while Microsoft stocks closed down 4% to a 7-month low of $25.01.
Apple’s stock price has improved around 10 times in the last 10 year. This phenomenal growth in the company’s market value can be attributed to its revolutionizing and stylish consumer electronics such as the iPod, iPhone and MacBook laptops.
Apple’s market value surpassed that of Microsoft after more than 20 years. The last time Apple achieved that milestone was on December 19, 1989.