IBM has become the second most valuable tech company in the US, beating Microsoft after more than 20 years.
Although Microsoft remains more profitable than IBM, the company’s share price has risen 45 percent in the past 10 years while Microsoft has remained flat and has even started to decline, The Express Tribune reports.
IBM’s stock market capitalisation is currently somewhere around $207 billion while Microsoft, now the third most valuable tech firm in the US, has a market valuation of around $206 billion. However, both neither company will be anywhere near Apple anytime soon.
The iPhone maker is the most valuable tech firm in the US with a market valuation of $311 billion. When Apple had first overtaken Microsoft as the most valuable tech firm, the company’s market value was at $222 billion while Microsoft was at $219 billion
Microsoft shares, powered by its Windows and Office products, continue to erode, despite record breaking sales of Windows 7 and Office 2010.
Although the difference between IBM and Microsoft is small, and the two could easily go back and forth as their stock prices fluctuate, this is a milestone for IBM, the original US tech giant that lost its position to Microsoft decades ago.