Apple Passes Microsoft as No. 1 in Tech

Thursday May 27th 2010 by Datamation.com Staff
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Although Microsoft still has much higher earnings, Apple's market cap surpassed that of its rival on Wednesday.

NY Times: By one measure, Apple is now bigger than Microsoft. On Wednesday, Apple's market cap hit $222.12 billion, ahead of Microsoft's $219.18 billion. Analysts say the numbers show that the market believes the future is in mobile technology rather than desktop PCs.

Microsoft's Steve Ballmer shrugged off the event, saying, "No technology company on the planet is more profitable than we are." In fact, although the two companies had fairly similar revenues last year, Microsoft reported profits of $14.6 billion, while Apple earned $5.7 billion.

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