Apple has just become the most valuable technology company in the universe, surpassing Microsoft. Trading isn’t quite over yet but as of around 3:30 Eastern today, Apple’s market cap sat at $224.95 billion compared to Microsoft’s $220.06 billion.
According to the New York Times, Exxon is the only American company more valuable than Apple, with a market cap of $282 billion. I’ll point out that Exxon sells gas, which most people consider a necessity, at steadily rising price points while Apple sells consumer electronics devices that nobody necessarily needs—although I’m sure some ardent Apple fans may disagree. And Microsoft has its operating system on the majority of the world’s computers, so what Apple’s been able to do here is pretty impressive.
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