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Apple Worth More Than IBM

By Chris V. Thangham     Oct 23, 2007 in Technology
After posting record-breaking earnings this quarter, Apple's share price rose to $186, which makes its market capitilazation value more than IBM. Apple and IBM used to be the first competitors in the PC market.
Wired.com reported two weeks ago that Apple was ready to surpass IBM in market value and today it did exactly that. Apple’s stock rose to $186 per share, putting its market capitalization at $161 billion dollars more than IBM’s market cap’ $156.45 billion dollars. It is the first time in history Apple surpassed IBM, which used to be a PC giant at one time.
Michael Dell, founder and CEO of Dell Computers, said 10 years ago Apple should shut their company down and give the money back to shareholders. Apple was at the bottom because of poor sales and lack of new products. Wonder what he will say about this new market cap of Apple’s.
Wired.com also posted this image which shows Apple welcoming the new entrant, IBM, to the computer market. Apple used to be a monopoly at that time, because there were no other computer manufacturers. With IBM, came the DOS and then subsequently the Windows operating system. But once it entered the market, Apple’s share of the computer market went down dramatically to a lower percentage. It is slowly gaining back its market share with innovative computers and operating systems like the new Leopard.
Apple's 1981 welcome ad which ran in the Wall Street Journal.
Apple share price and market cap will rise even more in the near future, many are buying its computers and products like iPhone, iPods, iTunes store etc. IBM no longer makes PCs but still makes computer servers and software.
More about Apple, Share price, Ibm
 
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