Google becomes No. 2 most valuable tech company

In May 2010, Apple attained a ranking long thought unthinkable — the world’s most valuable technology company, a position it achieved by dethroning longtime rival Microsoft.

Apple still sits atop the throne. But in the meantime another company has come along to kick Microsoft down a peg: Google, which capped off a summer surge in its stock price by overtaking Microsoft today in market capitalization. In the technology sector, only Apple has a bigger market value.

Google closed the day at $761.98, up 0.99 percent. Microsoft closed at $29.51, down 0.82 percent. And just like that, Google’s market capitalization of $248.89 billion overtook Microsoft’s value of 247.27 billion.

The day capped off a strong run for Google’s stock, which surged more than 30 percent this summer amid improved earnings and a bullish Citi report that set a new price target for the company at $850, up from $740.

  • Patience2

    And just WHEN will they get ‘Google Maps’ back on the iPhone 5 (in some form or the other)??

    • 5thDrawer

      Apple has a long way to go to catch Google on that one. Google has been driving cameras around for years. 🙂
      But Google, in the sense of ‘tech’ as I see it, has none … where Apple does. Google is only information-gathering. With someone else’s tech.

      • Patience2

         What you say is exactly right, but, Google maps IS the one that works.

    • 5thDrawer

      Apple has a long way to go to catch Google on that one. Google has been driving cameras around for years. 🙂
      But Google, in the sense of ‘tech’ as I see it, has none … where Apple does. Google is only information-gathering. With someone else’s tech.

      • Patience2

         What you say is exactly right, but, Google maps IS the one that works.

  • Patience2

    And just WHEN will they get ‘Google Maps’ back on the iPhone 5 (in some form or the other)??

    • 5thDrawer

      Apple has a long way to go to catch Google on that one. Google has been driving cameras around for years. 🙂
      But Google, in the sense of ‘tech’ as I see it, has none … where Apple does. Google is only information-gathering. With someone else’s tech.

      • Patience2

         What you say is exactly right, but, Google maps IS the one that works.