• Inside Labour

    Brexit should send warning signals to worker organisations everywhere, says Terry Bell.

  • Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

  • To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

All data is delayed
Loading...
See More

Google now second-richest tech firm

Oct 02 2012 09:57
AFP

New York - Google soared past Microsoft in terms of market value on Monday to become the second-richest firm in the tech world behind Apple.

Google shares gained 0.96% to end at $761.78, giving the internet giant a market capitalisation of $249.1bn. Microsoft meanwhile fell 0.91% to $29.49, translating into a market worth of $247.2bn.

Both remained well behind Apple, which shed 1.16% to $659.39, meaning its market cap is just above $618bn.

Google's stock price has climbed steadily this year as the California-based company bolstered its positions in key Internet growth areas with its dominant search engine, Android mobile operating system and YouTube video venue.

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

A note Monday from Trip Chowdhry at Global Equities Research said both Google and Apple have "strong momentum" in the mobile Internet sector while "developer interest in Windows Phone is almost non-existent."

Chowdhry added that Google's "innovation velocity far exceeds any other company."

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


*Follow Fin24 on TwitterFacebookGoogle+ and Pinterest.  

google  |  apple  |  microsoft

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...