It might have taken them a long time, but at the closing of the trading day yesterday, there was a new top tech company in the world, and it’s a company that spent many years in my lifetime hovering on the brink of failure.  Apple closed the New York Stock Exchange’s trading day with a net work of $222 billion dollars.  Microsoft was worth $219 billion.  For one shining moment, Apple is the biggest tech company in the world in terms of market cap.  Oil and petrochemical company ExxonMobil is still the world’s biggest company, with Apple now second.

So how did Apple finally dethrone Microsoft?  Simple:  higher profit margins.  While Apple only made $36.5 billion dollars last year, far short of Microsoft’s $58 billion, it also turned bigger profits thanks to churning out iPods and iPhones, as well as the Apple tax on its computer products.

It’s an amazing turn-around for a company that once needed Microsoft to invest $150 million dollars into it to keep it alive, and a personal victory for Steve Jobs.  Let’s remember, he was thrown out of the company once before; yet now he’s back and can officially be called the man who saved Apple Inc. by turning it from a computer company into a consumer electronics depot.

Tags: Apple, Microsoft, Apple becomes biggest tech company, market cap, stock prices, Apple second-most valuable company in the world, ExxonMobil, New York Stock Exchange, Steve Jobs

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