Tech Overview: Apple Market Cap Larger Than Microsoft, Google Combined

The Largest USA Tech Companies have reported second quarter 2012 financial results and we are now awaiting earnings season in October. Benjamin Graham said, “In the short run, the market is a voting machine but in the long run it is a weighing machine.” How has the market voted recently and weighed since the last review in June 2012?

The quick answer is: There continues to be Apple (AAPL), then everyone else, in the market valuation stakes – and I really mean everyone else. Apple is the clear and continuing leader of all companies in the world with a market capitalization of $655 billion. Exxon Mobil (XOM) is a distant #2 worldwide at $430 billion. In the technology sector, Apple is larger than #2 Microsoft (MSFT) and #3 Google (GOOG) combined. Further, Apple is even outperforming gold since the announcement by the Federal Reserve of QE Infinity. Yes, Apple is spinning gold…

In the technology sector, Microsoft is #2 at $262 billion and Google is #3 at $239 billion, moving ahead of IBM. IBM is now fourth at $238 billion. Further back are #5 Oracle (ORCL) ($159 billion) and #6 Intel (INTC) ($116 billion).

Now the race gets interesting and surprising. Amazon (AMZN ($116 billion) is at #7 and continues ahead of #8 Qualcomm (QCOMM) ($110 billion) and #9 Cisco (CSCO) ($101 billion). EMC (EMC) is still #10 ($59 billion) and VMware (VMW) ($43 billion) has moved up to #11. Struggling HP (HPQ), which reorganizes reorganizations, is #12 and last place at a lower $35 billion, which is 5.3% of Apple’s market capitalization!

I have included Amazon, more of an online retailer, because of the Kindle Fire, streaming, cloud services, and the resulting competition with others listed. EMC Corporation ($51 billion market cap) would actually be the next traditional USA big tech company.

The market valuation above is as of the market close on September 21, 2012 and provides a snapshot of value. All prior and expected financial performance and position has been priced into these publicly traded stocks, along with any other financial system, economic, and political uncertainties to-date.