Hell freezes over: S&P lists Apple atop Micro$loth

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Hell freezes over: S&P lists Apple atop Micro$loth

Postby BrevCampagnolo » Fri Apr 23, 2010 9:07 am

You had to know Micro$loth couldn't continue building disaster after disaster and stay atop the market. Apple, OTOH, still recognizes the road to success is paved with products your customers actually are eager to buy.

Microsoft cries foul as S&P 500 lists Apple as new tech frontrunner

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Microsoft says the S&P isn't playing fair by listing Apple ahead of it / www.standardandpoors.com

* S&P 500 lists Apple above Microsoft
* Microsoft says listing not justified
* Microsoft has 8.76bn shares outstanding

APPLE has become the second-largest company on the S&P 500 Index, surpassing software giant Microsoft.

Marketwatch reports that according to the S&P, Apple is now worth $US241.5 billion ($261.3 billion), passing Microsoft's $US239.5 billion ($259.1 billion) market capitalisation for the first time.

But whether that means Apple is officially the bigger company is now the subject of intense debate among market-watchers and tech industry pundits.

The S&P 500 is float-adjusted and doesn't use the full market basis for Microsoft.

What that means is that it doesn’t include all the shares Microsoft holds purely for strategy purposes, as opposed to those openly traded.

Microsoft took umbrage at the report, saying that based on all 8.764 billion shares outstanding, which they valued at $US30 a share, their market cap would be $US262 billion.

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Apple trails only Exxon Mobil and its market cap of more than $US300 billion.

Apple's market cap got its lift this week after the company on Tuesday reported a second-quarter profit of $US3.07 billion, helped by sales of 8.75 million iPhones and 2.94 million Macintosh computers during the quarter.

In the two days since Apple's report, the company's share have risen nine per cent to close overnight at $US266.47, while Microsoft shares are up just three cents to $US31.39.

Microsoft overnight reported a fiscal third-quarter profit of $US4.01 billion compared with earnings of $US2.98 billion during the same period a year ago.

Revenue rose six per cent to $US14.5 billion.[/img]
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