Microsoft toppled as world's largest tech firm

Microsoft has been toppled as the world's largest technology manufacturer, based upon market capitalisation at least.

Long-term rival Apple has forged ahead of the Seattle-based software giant in Q1 2010, with its value rising to £154 billion, compared to Microsoft's £150.98 billion.

The success of the Apple iPhone, and the new iPad, has led to a surge in the company's market worth in recent years.

Shares in the company now cost ten times more than they did in 2000, while Microsoft has seemingly struggled to maintain the industry dominance it established during the 1990s.

Microsoft is still the better performing company based on profits alone, clearing £10 billion in the first quarter of 2010 compared to Apple's £9.3 billion.

However, with the Apple iPad shifting more than one million units in its first month in the US, and the tablet device's global launch taking place today (May 28th), the next quarter's figures will be particularly interesting.

Commenting on the news, Microsoft's chief executive Steve Ballmer noted that the company has "good competitors", but is continuing to perform "very well".

Posted by Jon Aspinell