Google races past Microsoft to number two tech firm

Oct 01, 2012
Google soared past Microsoft in terms of market value Monday to become the second-richest firm in the tech world behind Apple.

Google soared past Microsoft in terms of market value Monday to become the second-richest firm in the tech world behind Apple.

Google shares gained 0.96 percent to end at $761.78, giving the a of $249.1 billion. Microsoft meanwhile fell 0.91 percent to $29.49, translating into a market worth of $247.2 billion.

Both remained well behind Apple, which shed 1.16 percent to $659.39, meaning its market cap is just above $618 billion.

Google's stock price has climbed steadily this year as the California-based company bolstered its positions in key Internet growth areas with its dominant search engine, Android mobile operating system and YouTube video venue.

The shares got a boost last week from a Citigroup note advising investors that the Google stock price could "rise significantly in the 12 months ahead."

A note Monday from Trip Chowdhry at Global Equities Research said both Google and Apple have "strong momentum" in the mobile Internet sector while "developer interest in is almost non-existent."

Chowdhry added that 's "innovation velocity far exceeds any other company."

Enthusiasm for Microsoft has been lukewarm, despite its upcoming launch of the Windows 8 operating system and a push into the tablet and phone markets.

Explore further: Restaurants experimenting with pay-in-advance tickets

add to favorites email to friend print save as pdf

Related Stories

Google shares hit new high (Update)

Sep 24, 2012

Google shares rose more than two percent to a new high of $749.38 at the close of the Nasdaq exchange on Monday and continued to rise in after-hours trading.

Nokia to unveil Windows phone next week

Oct 20, 2011

Microsoft said Thursday that Nokia is going to launch phones using Windows' new mobile operating system next week, giving a major boost to the US firm's come-from-behind phone software business.

S&P says sell Google's shares after Motorola deal

Aug 16, 2011

(AP) -- Standard & Poor's is saying investors should sell Google's stock because it believes the search leader's decision to buy Motorola Mobility increases the risk to the company and its shares.

Recommended for you

Restaurants experimenting with pay-in-advance tickets

57 minutes ago

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

3 hours ago

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

Apple's stock bounces back to hit a new high (Update)

6 hours ago

Apple's stock touched a new high Wednesday, reflecting investors' renewed faith in CEO Tim Cook's ability to outwit the competition and expand the technological hit factory built by the late Steve Jobs.

User comments : 4

Adjust slider to filter visible comments by rank

Display comments: newest first

rkolter
not rated yet Oct 02, 2012
Is this the first time Google has done this? The slight difference between the market capitalization of these two giant companies makes me think this is something that does, or will, happen occasionally. The only lasting impression this article gave me is the stunning difference between 1st and 2nd, not the fact that 2nd and 3rd swapped spots.
CapitalismPrevails
4 / 5 (1) Oct 02, 2012
Why has Microsoft turned into such a train wreck? I this the natural order of companies to just grow big, become bureaucratic and not innovate as much? At Least they have Xbox and Kinect going for them.
VendicarD
4 / 5 (1) Oct 02, 2012
Ball Boy Ballmer.

http://www.youtub...boPUjrGc

http://video.goog...08000794

"Why has Microsoft turned into such a train wreck?" - Capitalism is failure
chromosome2
3 / 5 (2) Oct 05, 2012
"Why has Microsoft turned into such a train wreck?" - Capitalism is failure


Actually, there is competition from Microsoft in every field. Capitalism in this case turns out to be incredibly redundant, and therefore fault tolerant. That's not exactly synonymous with failure. Microsoft, though, I do hope they go away. It's like the software equivalent of a cpu company with Intel's business practices and VIA's products.