Google Passes Microsoft’s Market Value as PC Loses to Web |
| Bloomberg - Oct 1, 2012 |
Google Inc. (GOOG) has surpassed Microsoft Corp. (MSFT) to become the world’s second-largest technology company as computing over the Internet reduces demand for software installed on desktop machines.
Google rose 0.7 percent to $759.98 at 11:13 a.m. in New York, for a market capitalization of about $249.2 billion. Microsoft, the world’s biggest software maker, fell 0.3 percent to $29.67, about a $248.7 billion valuation.
The milestone follows Google’s rise from a search-engine invented by two Stanford University students into an advertising powerhouse that makes the world’s most used mobile operating system and tool for digging up information on the Web. It also reflects the ascension of the Internet as the delivery channel for more of the software and computing tasks that were once left to the Microsoft-dominated PC industry.
“The PC hardware business is obviously struggling,” said Martin Pyykkonen, a Greenwood Village, Colorado-based analyst at Wedge Partners Corp. “The transition here is pretty straightforward in terms of where things have moved to and certainly that’s cloud, that’s Web.”
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- Posted: 2012-10-01 14:54:46
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