Apple overtakes Microsoft as most valuable tech firm

Apple yesterday overtook Microsoft as the world's most valuable technology company, thanks to the persistent run-up in Apple shares and the dwindling value of Microsoft stock. The move also made Apple the second largest company in the US.

Apple on Wednesday overtook Microsoft as the world's most valuable technology company, thanks to the persistent run-up in Apple shares and the dwindling value of Microsoft stock.

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Apple's total market capitalisation as measured by the value of all the company's shares was $227.1 billion in Nasdaq trading early Wednesday afternoon 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.

The move also made Apple the second largest company in the US, trailing only Exxon Mobile which has a market cap of $280.