After the tremendous sales and success which Apple has seen since iPhone launch helped it overtook Microsoft to became world’s most valuable technology company and the the second largest company in the US after Exxon Mobile in market capitalization, it to become the most valuable technology company which was a mixture of persistent run-up in Apple shares and the dwindling value of Microsoft stock.
On Wednesday afternoon Apple’s total market capitalisation as measured by the value of all the company’s shares was $227.1 billion in Nasdaq trading after its share value rose 1.53 per cent on the day. Microsoft’s shares fell 1.69 percent, giving the company a market capitalisation of $225.58 billion.
This landmark isn’t surprising considering people’s seemingly insatiable appetite for Apple products in recent months. When Steve Jobs announced that Apple would enter the mobile phone business at the MacWorld Conference and Expo in January 2007, he declared that “every once in a while a revolutionary product comes along that changes everything.” He himself might not have anticipated Apple’s fortunes rising so quickly.