Microsoft, once the mightiest and largest tech company in the world, now has to deal with another competitor passing it by. Apple overtook the software giant in market value in 2010. And now, for the first time, Google has also pulled ahead, with a capitalization of $249 billion over Microsoft’s $247 billion.
Analysts say Google’s milestone was partly the result of its long-brewing shift away from software and into cloud computing and mobile. The success of Google’s Android operating system, now on 2 in 3 new smartphones, has fueled aggressive investment in Google’s future. Still, analysts noted that Microsoft still makes more money than Google, and it will likely remain that way for some time.
Microsoft became the world’s most valuable company in 1998, but its value peaked in 1999. Apple solidified its lead over oil giant ExxonMobil for the top slot earlier this year. It now holds the throne with a staggering market cap of $620 billion.