Apple Passes Microsoft in Market Cap Fanboys Go Crazy
Today, Apple has surpassd Microsoft as the largest tech company in the world when you measure each companys market capitalization. The move by Apple comes as the companys iPhone and newest gadget the iPad tablet replace computing tasks once dominated by Microsoft programs. As markets prepare to close, Apples shares rose pushing its market cap to around $226 billion about $3 billion more than Microsoft. For those who dont know, Market Cap is the dollar value of a companys outstanding shares. The only US business with a higher market value is Exxon Mobile Oil worth about $281 billion. Meanwhile, the blogosphere is going BOOM! with Apple fanboys celebrating.
Of course, just how much this number means is a matter of debate. The truth is that it really doesnt mean that much in terms how strong or weak a company is from a financial perspective. But it is a good indicator of trends, and obviously stock performance. That trend is obviously that over the past five years or so, Apple has been destroying Microsoft is gaining stock value.
Over those past five years, Microsofts stock has been largely stagnant: its up about 4%. Apples stock, meanwhile, is up some 550% over that same time frame.
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