If there were ever any question that Apple is now the undisputed king of tech, take a look at the chart above. That’s the stock performance of Microsoft (in red) and Apple (in blue) over the past 10 years.
With Apple’s ascendancy, the company today surpassed yet another milestone. According to ABC News, it became, for a short period of time at least, the most valuable company in stock market history. Apple’s market value topped an eye-dropping $623 billion. (The stock has since fallen a bit this morning, and now shows a value of $619.4 billion)
The $623 billion figure is greater than Microsoft’s peak value in 1999, though the Associated Press notes that the software giant still would be considered larger at that time period when inflation was factored in. On December 30, 1999, Microsoft boasted an all-time high value of $620.6 billion.
In today’s dollars, that would come out to be about $850 billion.
Nonetheless, Apple’s rise is nothing short of amazing. And it has absolutely blown by Microsoft whose stock value now stands at $257 billion. Apple eclipsed Microsoft in market value a few years ago, and now the iPad and iPhone maker is by far the biggest company on the planet.
The stock is shooting up today on speculation of the launch of the new iPhone as well as reports of a smaller iPad.