Apple net worth more than rival Microsoft

AppleApple has managed to cross over its long-time rival Microsoft in terms of market capitalization. There is a slide in the value of Microsoft in the latest session on Wall Street. Apple has achieved another notch in its impressive 2010 performance.

Regardless of its own shares slipping 0.5% to $US244.11, Apple has managed to beat Microsoft. This has made Apple as second-largest US Company behind oil behemoth Exxon Mobil.

Earlier the firm has beaten the retail giant Wal-Mart Stores and now its time for Microsoft to stay behind Apple.

Apple has hit an all-time high of $US272.46 one month ago as its products have continued to fly off the shelves. It has gained 16% in the year 2010. The new arrival iPad has been the sensation in the global gadget market. It has crossed a record sales since its introduction to the US and UK market.

According to FactSet Research, as of yesterday's close, Apple's market capitalization was $US222.12 billion, moving past Microsoft's $US219.18billion value. Microsoft shares have been down by 18% year-to-date. However, Microsoft is still having a commanding market cap of $US270.7billion.