MarketWatch reports that Apple today passed Microsoft for second place in weighting on the S&P 500 index of large U.S.-traded stocks.
The float-adjusted market capitalization metric used for the S&P 500 should not be confused with the overall market capitalization more commonly cited by observers. The S&P 500 uses a weighting factor to account for only those shares that are publicly available for trading, and it is by this measure that Apple has now surpassed Microsoft.Apple's float-adjusted market cap reached $241.5 billion, surpassing Microsoft Corp.'s index market value of $239.5 billion, said Standard & Poor's. Exxon still remains in the top spot on the S&P 500 with a market cap of more than $300 billion, said S&P.
By the traditional market cap metric, Apple still trailed Microsoft by nearly $35 billion at the close of regular trading today, although Microsoft has lost nearly $12 billion in market cap in after-hours trading following the release of its quarterly earnings report.
Article Link: Apple Passes Microsoft for Second Place in S&P 500 Weighting