Google overtakes Microsoft as second biggest tech firm

03/10/2012

Google has overtaken Microsoft in terms of share value, and leaving the internet giant trailing only Apple as the second wealthiest tech firm in the world. Google’s shares surged this week, increasing by nearly 1%, taking its market capitalisation to £154.1bn ($249.1bn). The rise pushed Microsoft into third place, with a market worth of £152.9bn ($247.2bn). But both companies remain far behind Apple, which is worth an astonishing £382bn ($618bn).

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It is the first time Google has been worth more than Microsoft since it listed in 2004.

Google and Apple have now both outstripped Microsoft, with their next generation smartphones and tablets outselling PCs.

Microsoft was the most valuable company in the world until 2008 when rising oil prices pushed up the value of US energy giant ExxonMobil.

Apple is currently the world's most valuable company, with a market cap of $618bn.
Google's stock has climbed steadily since June when each share was worth £345 ($559). Monday's rise pushed the price to just under £472 ($762).

The shares also got a boost last week from a Citigroup note advising investors Google's stock price could "rise significantly in the 12 months ahead."

But the company has also profited from Internet growth areas such as its Android mobile operating system and revenue streams from YouTube.

Enthusiasm for Microsoft has remained lukewarm despite its upcoming launch of the Windows 8 operating system and a push into the tablet and phone markets.

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