Apple Passes Microsoft As The World’s Most Valuable Tech Company

According to Nytimes.com, as of Wednesday, Wall Street valued Apple at $222.12 billion and Microsoft at $219.18 billion.

The only American company valued higher is Exxon Mobil, with a market capitalization of $278.64 billion.

The cultural shift is the main reason for Apple to be ahead and consumer tastes have overtaken the needs of business as the leading force shaping technology.

Apple’s rebirth began in earnest with the introduction of the iPod music players, and Mr. Jobs began to gain a reputation for anticipating what consumers want. 

"Microsoft depends more on maintaining the status quo, while Apple is in a constant battle to one-up itself and create something new," said Peter A. Thiel, the co-founder of PayPal and an early investor in Facebook.

According to the website, Microsoft has more cash and short-term investments, $39.7 billion, to Apple’s $23.1 billion, which makes the value assigned by the market to Apple, essentially a bet on its future prospects, all the more remarkable.

"No technology company on the planet is more profitable than we are," Microsoft’s chief executive, Steven A. Ballmer.

The companies have comparable revenue, with Microsoft at $58.4 billion and Apple at $42.9 billion. But in their most recent fiscal years, Apple had net income of $5.7 billion, while Microsoft earned $14.6 billion. 

However, Apple declined to comment on Ballmer's statement.

It is hard to enjoy apples when you have sour grapes in your mouth.... :)