Google Unseats Microsoft as No. 2 Tech Company

Microsoft has been deposed as the world’s No. 2 technology company.
Google surpassed Microsoft Oct. 1 to slide into the second place position behind Apple in market capitalization.
Google rose 0.99 percent to close the day at $761.98, gaining a market capitalization of about $249.9 billion. Microsoft closed at $29.51, down 0.82 percent, to a market capitalization of $247.27 billion.
Google’s stock has risen more than 30 percent over the summer months due to improved earnings and a Citi report that set a new price target for the company at $850, up from $740.
The search engine giant possesses 66 percent of the U.S. search market, while Microsoft has 16 percent, according to ComScore Inc. Google could also oust Facebook in the U.S. this year as the top outlet for display advertising, including banner ads, according to EMarketer Inc. Google will also remain at the top for mobile ads in the U.S., EMarketer forecasts.
Google is also dominating the mobile software market with its Android powering 64 percent of Smartphones in the second quarter, up 21 percent from the same period in 2011, according to researcher Gartner Inc. Apple’s software came in at 19 percent and Microsoft at 2.7 percent.