Steve Ballmer, Microsoft CEO, dismissed the news that arch-rival Apple managed to surpass the software giant in terms of market capitalisation, amidst rumours that he might attend the Apple's Worldwide developer conference event for the first time ever.
Ballmer told reporters in New Delhi, India that the rivalry between the two companies is a "long game" where Microsoft has good competitors but are themselves very good competitors as well.
He added that they still make more profit than anybody else and that no other technology companies, including Apple, have managed to match them until now with 94 percent of computers being sold with a Windows OS.
That might change if the likes of Google, Apple and IBM manage to bring down Microsoft's twin cash cows, Windows and Office by convincing people to switch to cheaper web-based alternatives or using other operating systems.
Shares of Apple soared as its market value reached $222 billion yesterday, making it the biggest technology company in the world, while that of Microsoft dipped to $219 billion.
Apple's market price has been increasing continuously since the launch of the iPod and the consumer electronics giant has become a massive player in the mobile arena with the iPad and the iPhone becoming the biggest revenue earners for the company.