Apple finally bigger than Microsoft

Apple has overtaken Microsoft as the world’s biggest technology company as it prepares to launch the iPad in Britain tomorrow.
Shares in the technology company rose as much as 2.8 per cent on the Nasdaq index yesterday, pushing its market value at the close to $222 billion (£154 billion). Microsoft ended the day with a market value of $219 billion.
Shares of Apple are worth more than ten times their value ten years ago. Apple last had a higher market value than Microsoft in December 1989 but almost went out of business in the 1990s, when it accepted a $150 million investment from its rival to keep it afloat.
Success followed its launch of the iPod in 2001, which encouraged more people to buy its computers.
Microsoft still enjoys higher profits than Apple. Its most recent annual net profit was $14.6 billion, compared with $5.7 billion for Apple. Microsoft also reported bigger full-year revenues of $58.4 billion, compared with Apple on $36.5 billion.
The iPad, Apple’s new tablet computer, will launch in Britain tomorrow following a delay caused by its success in the US, which put unexpected pressure on supplies.
The company will next month reveal the next generation of iPhone.