IBM Passes Microsoft to Become Second Most Valuable Tech Company in the World
Yesterday, IBM’s market value rose to $214 billion, which passed Microsoft’s $213.2 billion to become the world’s second most valuable tech company, launching IBM to be the world’s second most valuable tech company, trailing only Apple. This is the first time since 1996 that IBM has passed Microsoft in terms of market value, possibly representing a shift in market trends away from the personal computer. Not only did IBM pass Microsoft to become the second most value company in tech, but it also became the fourth largest company by market value.
For those wondering what IBM has been doing all these years, or for those remembering that they used to be a household name, IBM sold its PC unit back in 2005, calling it “commoditized.” IBM has spent over $25 billion investing in its software, consulting businesses and computer-services, and is currently the world’s largest computer-services provider. IBM is also focusing on everyone’s favorite Internet buzztheme, the cloud, realizing where the current market is headed.
Though yet another competitor has managed to sneak passed Microsoft — who was worth more than three times as much as IBM back in 2000 — the Windows purveyor probably isn’t too worried, considering it seems to be the benchmark by which other companies’ successes are measured.
(Businessweek via Techmeme)
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