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Apple passes Microsoft to be biggest tech company

May 28, 2010
Web Desk

LAHORE: 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 $222 billion.

Microsoft is now valued by investors at $219 billion. However, Microsoft still enjoys higher profits than Apple. Its most recent annual net profit was $14.6 billion, as compared with $5.7 billion for Apple. Microsoft also reported bigger full-year revenues of $58.4 billion, with Apple on $36.5 billion. Apple’s shares closed Wednesday trading down 0.4 per cent at $244.11, while Microsoft fell by four per cent to $25.01.
Source: The News
Date:5/28/2010

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