SEATTLE, May 27 (UPI) -- Apple became the 500-pound gorilla of the technology world Wednesday, surpassing Microsoft based on market capitalization.
The Seattle Times reported Apple and Microsoft could wind up see-sawing back and forth in the coming months -- but on Wednesday, Microsoft stock fell 4 percent to close at $25.01 for a market capitalization of $219.1 billion while Apple stock slipped 0.5 percent to close at $244.11 and a market capitalization of $222.1 billion.
"It's mostly symbolic," said Matt Rosoff, analyst at Directions on Microsoft, an independent research firm in Kirkland, Wash. "Apple built a lot of new businesses; they've been able to be successful in those businesses. They also started from a smaller base."
When it comes to sales and profits, Microsoft is still in command, turning a $14.6 billion profit on $58.4 billion in sales last year compared with Apple's $5.7 billion profit on $36.5 billion in sales.
The biggest corporation of all, however, remains oil giant Exxon Mobil at $278.6 billion.