Apple approaches Microsoft's market value

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