Thursday, August 14, 2008

APPLE STOCK MARKET VALUE INCHES PAST SEARCH GIANT GOOGLE'S

On Wednesday, Apple became Silicon Valley's most valued company, nudging out Internet behemoth Google by what amounts to pocket change among the tech giants.

For the first time since Google's 2004 initial public offering, Apple finished the day with a higher market value than the Internet search leader. The total value of Apple's stock was $158.84 billion, a relative whisker more than Google's $157.23 billion. That was enough to unseat Google as Silicon Valley's No. 1 company.

It is just the latest milestone for the maker of Macintosh computers, iPods and iPhones.

"Both companies are in good spots, but Apple is in a better spot," said Piper Jaffray analyst Gene Munster.

Now Apple can add a little more swagger to its iPod shuffle.

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