Posted by: macintoshsisters | August 15, 2008

Apple Is Worth More Than Google

Apple found itself worth more than Google for the first time ever while trading on Wednesday

Apple this Wednesday found itself worth more than Google for the first time ever, helped surely by the success of its iPhone over the last several months. Although not an all time high, Wednesday trading saw Apple hit a $159 billion market cap, while Google trailed behind at $157 billion. Apple’s history of growth has definitely been impressive. In 2006, Apple had surpassed Dell’s market value and has since tripled Dell in value. Only a few months ago it even blew past Citigroup, which a couple years ago was the fourth-largest company in the Standard & Poor’s 500 Index.

Apple latest leapfrog of a major company isn’t so surprising considering their reported record third quarter results this year. Shipping 2.5 million Mac computers, 11 million iPods, and 717,000 iPhones- Apple must be doing something right. Apple has been a leader in innovation, design and style, with their products well known, sought after, and praised by many. Some predicted that Apple would overtake Google back in November, but were generally met with disbelief and criticism. There are many at this point, no doubt, who wish they bought some Apple stock a few years ago.

Google’s own performance hasn’t been doing bad, but a significant amount of people were hoping to see a Google Phone produced by this point in time. Google is developing a software operating system for mobile devices called Android, but it will still be a while before we see phones hit the market using this OS.



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