The New York Timesreports that Apple has passed Microsoft as the top tech company. Wall Street values Apple's market cap at $222.12 billion and Microsoft's market cap as $219.18 billion.
This changing of the guard caps one of the most stunning turnarounds in business history for Apple, which had been given up for dead only a decade earlier, and its co-founder and visionary chief executive, Steven P. Jobs. The rapidly rising value attached to Apple by investors also heralds an important cultural shift: Consumer tastes have overtaken the needs of business as the leading force shaping technology.
Microsoft makes more money ($58.4 billion to $42.9 billion) and has more cash on hand than Apple ($39.7 billion to $23.1 billion). You can see the latest Apple quote here and the latest Microsoft quote here for comparison.
The New York Times 
