Apple bigger than Microsoft?

On Wednesday’s NASDAQ, Apple Inc. topped Microsoft shares by 2.8 per cent, meaning that Apple has surpassed its competition and become the leading technology company in the world. It’s proof that the iPhone-maker was able to recover from its spiralling downfall in the 1990s where they almost went belly-up.

According to an article in the Financial Post, Apple shares are currently worth ten times what their value was a decade ago. The writer credits this to their constant flow of revolutionary gadgets, including the iPod, iPhone and MacBook laptops. Most recently, the new iPad has had consumers lining the streets in anticipation of its release in North America, Europe and Asia. Microsoft, on the other hand, hasn’t been able to keep up with the demand of new technologies, and its stock has declined about 18% from 10 years ago.

Does this mean that Apple Inc. will continue to be the front-runner? Some say yes and some say no. One CNN business blogger wrote: “To judge from the headlines this week, the fight is over and Apple has won. ‘Upstart Apple steals Microsoft’s crown’ says the Times of London, ‘Apple now bigger than Microsoft’ wrote the BBC, ‘Apple topples Microsoft’s throne’ crows CNNMoney. Speaking on a road trip in New Delhi on Thursday, Microsoft CEO Steve Ballmer said the software giant was still the most profitable tech company in the world. So who is right?”

Only time will tell who wins this battle. In the meantime, Apple Inc. is now the second-largest company on the Standard & Poor's 500 index by market value, falling just behind energy giant Exxon Mobil Corp.