Apple’s worth more than Microsoft

Last night Apple’s market capitalisation exceeded Microsoft’s for the first time since 1989. I think it’s interesting, not because Apple’s damaging Microsoft but because of the picture the numbers paint.

Since the return of Steve Jobs, Apple has transformed itself, especially since its invention of the iPod: almost overnight, Apple went from being a computer company to a digital music company. The iPod business has probably peaked, but Apple doesn’t mind: it’s changed again to a mobile phone company, and if that business starts to wane then it may turn out to be an iPad company, or a something-else company.

Microsoft, on the other hand, hasn’t really changed at all.

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