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Google races past Microsoft to No. 2 tech firm

Published on Oct 2, 2012 6:17 AM
 
Google soared past Microsoft in terms of market value on Monday to become the second-richest firm in the tech world behind Apple. -- PHOTO: AFP

NEW YORK (AFP) - Google soared past Microsoft in terms of market value on Monday to become the second-richest firm in the tech world behind Apple.

Google shares gained 0.96 per cent to end at US$761.78 (S$937), giving the Internet giant a market capitalisation of US$249.1 billion. Microsoft meanwhile fell 0.91 per cent to US$29.49, translating into a market worth of US$247.2 billion.

Both remained well behind Apple, which shed 1.16 per cent to US$659.39, meaning its market cap is just above US$618 billion.

Google's stock price has climbed steadily this year as the California-based company bolstered its positions in key Internet growth areas with its dominant search engine, Android mobile operating system and YouTube video venue.

 
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