Steve Ballmer Insists Microsoft Still Top in TechBy Channel Insider Staff | Print
On May 26, Apple's market capitalization reached $227.1 billion, based on its stock price, eclipsing Microsoft's $226.3 billion. That was enough to make Apple the most valuable U.S. technology company, and place it second on the list of highest-valued American companies behind Exxon Mobile at its $282 billion market capitalization.Microsoft CEO Steve Ballmer suggested during a trip to New Delhi that the surpassing of Microsoft's market capitalization by Apple, while trumpeted as a major shake-up by the media, was not a cause for concern at Redmond.
In addition to insisting on Microsoft's competitive value, Ballmer also reportedly said that Windows Phone 7, the company's upcoming smartphone operating system, will indeed be released by the end of 2010. News of Apple's higher market capitalization came after Microsoft announced a major shakeup of its Entertainment and Devices Division, which creates consumer products such as smartphone operating systems and the Xbox game console franchise.