Apple is world’s biggest tech company by value

Apple is world’s biggest tech company by value

I’ve been an Apple user since 1985 and a Mac user, specifically, since 1989 and in the 25 years of following all things Apple, I’ve seen Apple’s lows and highs. Today was another high for Apple - at the close of the New York Stock Exchange, Apple’s market capitalization of $222 billion (the total dollar market value of all of Apple’s outstanding shares) was higher than Microsoft’s market capitalization of $219 billion. In fact, at the close of the Market today, Apple is the second largest company in the world in terms of market capitalization behind only ExxonMobil!

This is an amazing accomplishment for Apple. I remember taking an Organization Behavior class during my undergraduate work at the University of South Carolina in the early ‘90s where we read a case study on Apple. We learned how Apple essentially owned the personal computer and educational markets but, through some strategic and tactical blunders, gave up its market share to computers running MS-DOS and, later, Windows.

Since Steve Jobs’ return to Apple in the late ‘90s, Apple has experienced quite a renaissance. It has not always been smooth sailing for Apple since Jobs’ return but it’s had far more successes (e.g. iPod, iPhone, iMacs, etc.) than less successful ventures (e.g. hockey puck-shaped mice, the Cube, the iPod Hi-Fi, etc.). Apple is delivering not only the products that people want but products that “just work.”

Congratulations Apple! A job well done!

For more information, please refer to the Financial Times article