Apple now worth more than Microsoft

For the first time on Wednesday, Apple Inc.'s market capitalization surpassed that of rival Microsoft Corp.

Apple shares endedtradingon the Nasdaq exchange at $244.11, down $1.11. That gave the phone and computer seller a total market capitalization of $222.4 billion US.

Microsoft shares closed at $25.01, down$1.06, giving the software titan a market cap of $220.6 billion.

That makes Apple the most valuable technology firm in the world and the second-largest publicly traded U.S. company, behind oilgiant Exxon Mobil Corp. Exxon has a market value of $278.6 billion.

Apple only holds 10 per cent of the global computer market, but the release of the now-ubiquitous iPod in 2001 followed by the iPhone andrecently theiPad revolutionized theCupertino, Calif.-based corporation and lit a fire under its stock price.

Analysts had been predicting for months that Apple's meteoric rise would seeovertake Microsoft in market value, but Wednesday was the first time it actually happened.