In 1999 Microsoft stock set a record high, and its market capitalization was nearly $620 billion. At the same time, Apple was teetering on bankruptcy. When interviewed in 1998 for Vanity Fair, Microsoft’s co-founder Bill Gates said he “couldn’t imagine a situation in which Apple would ever be bigger and more profitable than Microsoft.”
Jump to late January 2015, when both Microsoft and Apple unveiled their latest quarterly earnings. The once unthinkable became reality: Apple’s market capitalization hit $683 billion, more than double Microsoft’s current value of $338 billion.
Apple now sells more than 34,000 iPhone 6s every hour, 24 hours a day. Currently, Apple is as dependent on the success of one product line — the iPhone accounted for 69 percent of its revenue — as Microsoft once was with Windows.
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