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Apple, the maker of iPods, iPhones and iPads, overtook Microsoft, the computer software giant, on Wednesday to become the world's most valuable technology company. According to a New York Times report, in intraday trading in the afternoon session, Apple shares rose 1.8 percent, which gave the company a value of 227.1 billion dollars. Shares of Microsoft declined about one percent, giving the company a market capitalization of 226.3 billion dollars. 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. But the rapidly rising value attached to Apple by investors also heralds a cultural shift. It seems that consumer tastes have overtaken the needs of business as the leading force shaping technology.

Apple surpasses Microsoft as most valuable technology company