Apple Is Now No. 1 Tech Company It finally overtakes Bill Gates' baby By John Johnson, Newser Staff Posted May 26, 2010 4:36 PM CDT 26 comments Comments Apple's Steve Jobs gestures on stage during an event at Apple Inc. in Cupertino, Calif., Thursday, April 8, 2010. (AP Photo/Eric Risberg) (Newser) – A business and tech milestone today: A little after 2:30pm, Apple overtook Microsoft to become the most valued technology company in the world, reports the New York Times. Apple ended the day with a market capitalization worth $222.1 billion, vs. Microsoft's $219.2 billion. Among US companies, Apple now trails only Exxon at $282 billion. "This changing of the guard caps one of the most stunning turnarounds in business history, as Apple had been given up for dead only a decade earlier," write Miguel Helft and Ashlee Vance. "But the rapidly rising value attached to Apple by investors also heralds a cultural shift: Consumer tastes have overtaken the needs of business as the leading force shaping technology."