Apple has officially surpassed Microsoft as the biggest technology company in the world in terms of market capitalization (market cap). Last week Apple’s market cap rose to $226 billion mark, exceeding that of Microsoft at $223 billion
Apples’ best selling gadget, iPhone has been attributed to the company’s overwhelming success in the recent years. The company has also launched iPad, a personal tablet computer that the company predicts would ‘change the way laptop and portable computers are operated’. The other undeniable x-factor is the presence of its much admired founder and CEO, Steve Jobs.
Steve Jobs has a long associated series of successes, which were colored by his dismissal as the CEO during a boardroom tussle somewhere in between. He came back a few years after losing the company he built at the back of his own home and steered remarkable rounds of successes at Apple, one after another.
Market capitalization (or market cap) is a mean to measure a size of a certain public company or organization which is derived from the share price times the number of shares outstanding.
Apart from Apple, Microsoft is also facing a stiff competition from another tech company, the ever growing search engine giant, Google.