Alex has written for Vanity Fair, Barrons, Bloomberg and Condé…
What a difference 10 years makes. Apple’s surpassing Microsoft in market capitalization Wednesday very much embodied the sour spirit of the Redmond company’s week, and the struggles within its Entertainment and Devices Division. Apple’s stock market capitalization (AAPL) has not yet quite surpassed Microsoft’s (MSFT), but the value of its actual business is now higher. Specifically, Apple’s business is now worth $200 billion, while Microsoft’s is only worth $197 billion. Apple, which was nearly dead 10 years ago, engineered its turnaround on the lucrative consumer market. The iPod, iTunes and iPhone propelled the Cupertino, Calif., company from the basement of Wall Street to its new status as the world’s most valuable tech firm. Microsoft’s market value slipped to $219.4 billion after its shares continued to fall Wednesday, while Apple closed the day valued at $222.6 billion. That made Apple the second-largest U.S. company by stock value, trailing only Exxon Mobil’s $278.6-billion market capitalization.
Alex has written for Vanity Fair, Barrons, Bloomberg and Condé Nast Traveler.