Yesterday Apple [AAPL] took over Microsoft [MSFT] in market capitalization. The company sat below Exxon Mobil in terms of US companies. However, things have bounced back the other way today with the data changing constantly throughout the day.
Market capitalization is calculated by multiplying the share price times the number of outstanding shares. It is often used as a public metric of a company’s overall net worth.
Apple shares have been going up recently with them hitting a high of $251. When compared to Microsoft (who’s went down), we can see why Apple is catching up so quick, as well as overtaking.
Although some predicted that Apple would get to this point, I don’t think there were many that expected it to happen as quick as it did. It’s an impressive shift over the last 10 or so years where the company has grown quite a bit.
Via: Mashable
The real problem here is that Microsoft is shrugging Apple off. While Microsoft was sitting complacently, Apple was out innovating. Microsoft sees Apple as a challenger but gives them no credit. This is a big mistake. Apple is moving from challenger status to market leader. This reminds me of pride before the fall. Unless strategy changes at Microsoft, they will go the way of the 8-track.