International Business Machines Corp passed Microsoft Corp to become the world’s second-most valuable technology company, a reflection of industry changes including the shift away from the personal computer.
IBM’s market value rose to $214 billion today, while Microsoft’s fell to $213.2 billion, the first time IBM has exceeded its software rival based on closing prices since 1996, according toBloomberg data. IBM is now the fourth-largest company by market value and, in technology, trails only Apple Inc, the world’s most valuable company. Â
IBM, based in Armonk, New York, has gained 22 per cent this year, while Microsoft, based in Redmond, Washington, has dropped 8.8 per cent. IBM rose $1.62 to $179.17 at 4 pm in New York Stock Exchange composite trading, and Microsoft fell 13 cents to $25.45 in Nasdaq Stock Market trading.
Congratulations to one and all at IBM.
Now to go after Apple? (Apple’s market capitalization is currently $362.1 billion!)