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The Wednesday market witnessed Apple shares rise by 1.8 percent, which gave the company a value of 227.1 billion dollars. Shares of Microsoft on the other hand declined about one percent, giving the company a market capitalization of 226.3 billion dollars.
Once earlier Apple had recorded a higher share price than Microsoft in December 19th 1989 according to Thomson Reuters Datastream. Apple's shares are 10 times higher than what it was 10 years ago. Thanks to it's products such as iPhone and iPads.
This changing of the guard caps one of the most stunning turnarounds in business history, as Apple had been given up for dead only a decade earlier. But the rapidly rising value attached to Apple by investors also heralds a cultural shift. It seems that consumer tastes have overtaken the needs of business as the leading force shaping technology.
Microsoft's operating system runs on World's personal computers. They have not been able to match the growth rates and thus their stocks went down by 20 percent.
Microsoft however still rules over Apple in matters of sales. According to Reuters, Microsoft reported .5 billion in revenue compared with Apple's .5 billion.