Technology IBM tops Microsoft in market value

By AFP
Published: May 22, 2011
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IBM briefly topped Microsoft in market value on Wall Street on Friday.

IBM briefly topped Microsoft in market value on Wall Street on Friday.

NEW YORK: IBM briefly topped Microsoft in market value on Wall Street on Friday to become the second-largest technology company after Apple. But IBM shares lost 0.25 per cent to close at $170.16, giving the New York-based company, a market capitalization of $206.1 billion. Microsoft shares shed 0.91 per cent to close at $24.49, giving the US software giant a market capitalization of $206.5 billion. IBM announced meanwhile that it is investing an additional $100 million in data analytics and unveiled new software and services to help clients manage large amounts of data. “The volume and velocity of information is generated at a record pace,” said IBM Software and Systems Senior Vice President Steve Mills, in a statement.

Published in The Express Tribune, May 22nd, 2011.

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