Apple Finally Overtakes Microsoft
The Telegraph and many other news sources are today reporting that Apple has now officially become the biggest technology company in the world, finally overtaking Microsoft, after Apple shares rose by 1 percent, with Apple then ending the day’s trading with a market value of $222 billion. (Microsoft has a market capitalization of $219 billion). The shares increase means that Apple is now just one place behind the biggest company in the world, ExxonMobil, which is worth $282 billion.
The Telegraph points out that Apple almost went out of business in the ‘90s, but was saved by the ingenious way it tapped into the incredible consumer demand for such devices as iPods, MacBooks, and iPhones. The past decade has seen Apple’s value increase 10-fold. And doubtless things will only get better, after the massive success of the iPad. According to The Telegraph, Apple is also due to open a new flagship store in London’s fashionable Covent Garden, with its Regent Street store already being the most profitable shop in the UK, raking in £60 million a year, or £2,000 per square foot.
By Maura Sutton, iPadForums.net
Source: Daily Telegraph