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Apple becomes biggest tech company in the world

Latest figures show Apple beats Microsoft in terms of market capitalisation

After trading, Apple passed Microsoft to become the world's most valuable technology company yesterday.
After trading, Apple passed Microsoft to become the world's most valuable technology company yesterday.

On Wednesday, Apple passed Microsoft to become the world's most valuable technology company based on market capitalisation.

At the end of yesterday's trading, Apple's market value stood at around $222 billion while Microsoft was pushed down to second place at about $219 billion, making California-based Apple officially worth more than the Redmond software giant.

Responding to the news, Microsoft CEO Steve Ballmer said it was a 'long game' and that while the company has good competitors, Microsoft will still remain successful.

"I will make more profit and certainly there is no technology company on the planet that is as profitable as we are," Ballmer told reporters in India recently.

Jobs co-founded the Cupertino, California-based company in 1976 that first brought to the world its Apple and Macintosh computers, and continued its consumer technology focus with the revolutionary iPhone and App Store, its family of iPod media players and notebooks, the iTunes media store, its iLife and iWork application suites, and most recently, the iPad tablet device.

All eyes will now be on the Apple Worldwide Developers Conference (WWDC), taking place June 7 - 11, with Jobs expected to deliver the keynote address. This year's WWDC sold out in a record eight days to over 5,000 developers.