Okay, so maybe "breezes" isn't the best choice of words, given how long and hard the road to success proved for Apple. But Apple has finally gotten a leg up on Microsoft - at least on Wall Street.
The Standard & Poor's index services unit says Apple, with a market cap of $241.5 billion, is now ahead of Microsoft's $239.5 billion market capitalization. As a result, Apple now lags behind only Exxon Mobil (and its market cap of just north of $300 billion). If investors continue to react as positively toward Apple as they have on the heels of recent mind-blowing earnings, it may not be long before Apple sits pretty atop all of the S&P 500.
Apple was able to bump Microsoft on Thursday as a result of the company reporting a quarterly profit of $3.07 billion - or $3.33 a share - on $13.5 billion in revenue. A stunning success by all accounts, the stock surge enjoyed by Apple has promoted some - like CNN Money's editor at large, Paul R. La Monica - to suggest that Apple should finally be listed on the Dow because its no longer just a "plucky tech underdog."
"Now more than ever, Apple merits serious consideration."