Friday, May 28, 2010

Apple passes Microsoft to be biggest tech company

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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. However, Microsoft still enjoys higher profits than Apple. Its most recent annual net profit was $14.6bn (£10bn), compared with $5.7bn for Apple. Microsoft also reported bigger full-year revenues of $58.4bn, with Apple on $36.5bn.
Apple's shares closed Wednesday trading down 0.4% at $244.11, while Microsoft fell by 4% to $25.01.

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