Apple's market valuation crosses $230 bn

NEW YORK: Apple continued to remain as the world's most valued technology company ahead of Microsoft, with the iPhone maker's shares climbing over one per cent on Friday.

Shares of Apple marginally rose to USD 254.21 in early trade, resulting in a market capitalisation of USD 231.30 billion.

Meanwhile, Microsoft dropped nearly one per cent to USD 25.74 and at that price, the company's valuation was at USD 225.58 billion.

At the close of trading on Wednesday, Apple surpassed Microsoft as the most valued technology entity with a market capitalisation of USD 222.12 billion. On that day, Microsoft's valuation touched USD 219.18 billion.

The emergence of Apple as the most valued technology firm also reflects the gradual shift of consumers to latest hand-held devices from the days of personal computers. Apple's products include iPhone, iPod and iPad.

Microsoft's annual revenue is around USD 58 billion, while that of Apple is little over USD 42 billion.