May 27, 2010 10:54 PM EDT
Apple maintains its position as the largest technology company and the second largest U.S. company by market capitalization after Thursday's stock market rally.
Apple (NASDAQ:AAPL) gained 3.79 percent, or $9.24, to end at $253.35 with a market capitalization of $231 billion. Microsoft (NASDAQ:MSFT) rallied 3.96 percent, or $0.99, but remains the second largest tech company as it ended at $26.00 with a market capitalization of $228 billion.
Exxon Mobil (NYSE:XOM), the biggest U.S. company, ended with a market capitalization of $289 billion.
Follow us
Microsoft shares were lifted by an upgrade to “outperform” from FBR Capital Markets. FBR believes that we are “in the early stages of the corporate PC cycle refresh that should provide a boost to [Microsoft's] flagship desktop offerings.”
Given the product cycle and “improving fundamentals,” analysts at FBR believe the recently battered Microsoft shares are cheap.
Investors have no favored Microsoft shares recently.
While the Dow Jones Industrial Average, of which Microsoft is a component, is down only 1.62 percent year-to-date, the Dow Jones U.S. Technology Index is down 3.33 percent, Apple is up 20.22 percent, and Microsoft is down 14.7 percent.
In the past 12 months, Apple shares rose 90.42 percent while Microsoft shares dropped 1.03 percent.
The glaring divergence in the stock market performance is reflective of the stellar performance of Apple's innovative products such as the iPhone, iPod, iPod Touch, and most recently the iPad.
Curt Schilling Fires Entire Staff in ‘Non-Voluntary’ Layoffs at Video Game Company 38 Studios
Ben & Jerry’s Lock Protects Your Ice Cream Pints From Thieves, Where To Buy The 'Euphori-Lock' [PHOTOS]
Jonathan Ive: Apple's Next Project Is 'Most Important,' 'Best Work We've Done'
Memorial Day Sales 2012: 25 Best Deals, Discounts And Bargains Online And In Stores For MDW Holiday Weekend
Facebook, ‘Titanic' Of IPOs, Could Poison Tech Company PipelineWe value your privacy. Your email address will not be shared.
