Apple overtakes Microsoft

According to a report by the New York Times, Apple shares yesterday rose 1.8% to give the firm a value of US$227.1 billion.

Shares of Microsoft on the other hand declined by around 1%, which gave the Windows developer a value of US$226.3 billion.

The only American firm valued higher is Exxon Mobil, with a value of US$282 billion.

"It is the single most important turnaround that I have seen in Silicon Valley," said one analyst.

Yesterday we reported that Microsoft had made some major changes to its mobile and gaming division, due to the increasing competition faced from the likes of Apple and Google.