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.