Computer major Apple has shot ahead of Microsoft Corp as the world's biggest technology company in terms of market capitalisation.
On Wednesday, the market value of the maker of iPad, iPhone and iPod rose to $225.1 billion, inching ahead of Microsoft, which had a market cap of $222.7 billion at the time.
Apple inc shares have risen 10 times what they were a decade ago, driven mainly by its innovative products that have become the rage across the globe.
Microsoft on the other had has lost out, with its share value dipping by almost 20 per cent in the last decade.
Only energy giant Exxon Mobil is ahead of Apple in terms of market cap on the S&P 500 index.
Meanwhile, terming its competition with rival Apple as a "long game," software giant Microsoft on Thursday said it will continue to focus on developing good products, leaving the stock market to take care of itself.
Replying to a question about arch rival Apple overtaking it in terms of market value, Microsoft chief executive officer Steve Ballmer, who is in New Delhi, said that "it's a long game; we have good competitors... we too are a very good competitor."
"We are executing very well and that is going to lead to great products and great success. How the stock market chooses to reflect on that is up to the stock market," Ballmer added.
Shares of Apple, the makers of the iconic iPhone, had risen on Nasdaq on Wednesday, pushing its market value above its longtime rival, Microsoft. Ballmer, who is here to discuss the company's cloud services offerings, said, "my focus is on everyday...what we should be doing to our product line, where do we go, how do we make products more innovative."
He also exuded confidence that there is no technology company in the planet that is as profitable as Microsoft. Ballmer also said the company plans to a launch a new software for mobile phones by the end of 2010.
Image: Microsoft chief executive officer Steve Ballmer. Photograph: Reuters
