"Apple's market capitalization officially passed Microsoft's
this afternoon, making the Cupertino company, for the first time,
the largest technology company in the world.
"With a market cap of $241.5 billion versus Microsoft's $239.5
billion, Apple also became the second-largest company on the
S&P 500, according to Standard & Poor's analyst Howard
Silverblatt. At the moment, only Exxon Mobil is bigger.
"Market cap is a measure of the total value of all the
outstanding shares of a company, and it's a proxy for what
investors think the company is worth, taking into account future
earnings and future growth. As such, it's a measure of
expectations, not reality: Apple's annual revenue was $42.9 billion
in the most recent fiscal year, versus Microsoft's $58.4 billion.
Both look puny next to Exxon Mobil's $301.5 billion in annual
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