Early reports that Apple overtook Microsoft in global stock market were incorrect

Apple approaches Microsoft’s market value

Many figures in the global stock market last night became incredibly excited after it was reported that Apple had for the first time overtaken Microsoft in a leading market ranking report.

The Guardian has reported, however, that once other variables were factored into the calculations, Apple hasn’t quite passed Microsoft’s market value – at least, not yet.

Last night’s furore was ignited when the Standard & Poor 500 Market Ranking stated that Apple’s float-adjusted market cap had reached $241.5bn, ahead of Microsoft’s $239.5. A company’s market cap is its stock price multiplied by issued stock.

However, it has since emerged that the Standard & Poor 500 Market Ranking omits shares held by government agencies and other publicly traded companies.

To read the story in full, head over to PCR’s sister site, MCV.

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