Remember that little company that needed Microsoft's financial help just to
keep going in 1997? Well, today that company - Apple - just surpassed Microsoft
in terms of market value.
At the close of trading in Wall Street last night, Apple had a market
capitalisation of $222 billion, compared with Microsoft's $219 billion. The
valuation makes Apple the world's most valuable technology firm.
It marks an extraordinary turnaround for Apple, which was on the brink of
collapse before Steve Jobs returned to the company in 1997. Indeed, Apple
accepted a $150 million investment from Microsoft that year just to keep the