Apple's Market Cap Symbolic of New Mobile Era

A number of blogs and media outlets have trumpeted the fact that Apple surpassed Microsoft's market capitalization earlier today. According to the NY Times' report:

As of Wednesday, Wall Street valued Apple at $222.12 billion and Microsoft at $219.18 billion. The only American company valued higher is Exxon Mobil, with a market capitalization of $278.64 billion. The revenue of the two companies are comparable with Microsoft at $58.4 billion and Apple at $42.9 billion.

 

But Microsoft is sitting on far more cash, $35.7 billion to Apple’s $23 billion, which makes the value assigned by the market to Apple — essentially a bet on its future prospects — all the more remarkable.

 

It may not stay that way for long -- especially if investors are disappointed by the announcements at Apple's forthcoming developer conference on June 7. But the relative market capitalizations of the two companies is symbolic of the changing of the guard and of a transition from the fixed Web to wireless devices and the mobile Internet. 

We are in an era of cloud computing and mobile devices, where consumers bounce easily from PCs and laptops to smartphones and now tablet devices. This is the idea behind "Internet2Go."

As Google's Vic Gundotra said last year in discussing some of Google's mobile initiatives: "We're at the beginning of the beginning of a new era in computing."