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Digital Wars by Charles Arthur

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Chapter Seven

2011

On 9 August 2011, Apple’s market capitalization briefly rose to $341.5 billion, edging it just ahead of Exxon, until that morning the highest-valued company in the world. The company Steve Jobs had co-created putting together computers, the one that Michael Dell had suggested shutting down 14 years earlier because it had no future, was now worth more than any other. The stock fell back by the end of the day, but it had made its mark; the transformation of Apple from financial basket case to ruler was complete. At the end of the day it was worth $346.7 billion; Microsoft was worth $214.3 billion and Google $185.1 billion.

Compared to the end of 1998 (Apple $5.54 billion, Microsoft $344.6 billion, Google $10 million), the aggregate ...

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