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Google passes Microsoft to become the second most valuable tech company

Google becomes the second most valuable tech company - passes Microsoft, and now only has Apple ahea

By Anthony Garreffa from Oct 1, 2012 @ 23:34 CDT

I still remember the old days of HotBot, Yahoo, Alta Vista and so many other search engines. If I wanted to search for something particular, I'd use a specific search engine, then this 'Google' came out and I tried it out - oh how it has grown since, not just in its power, but the value behind it.

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Google threw Microsoft to the side today, overtaking them to become the second most valuable tech company in the world. The Mountain View-based company's stock value increased 0.7% to $759.98 giving the company a market capitilization of around $249.2 billion. The now number three company, Microsoft, saw their shares drop 0.3% to $29.67 a piece, giving them a valuation of around $248.7 billion.

We know that the PC hardware space is struggling, and Google don't really have much product in that market. Google have a huge chunk of the mobile OS market with Android, owning roughly 64% of the smartphone OS market. Apple is still way out ahead in terms of value, with their latest valuation pegging the iPhone maker at $632.9 billion.

NEWS SOURCES:Techspot.com


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