Howard Silverblatt, a well known Standard & Poor’s analyst says Apple is worth more than Microsoft:
It came right down to the trade, but AAPL has an index market value of $241,534 million and MSFT has a market value of $239,515 million – AAPL is #2.
The trend is clear. Apple trails only Exxon Mobil in market cap using the S & P’s “float adjusted market capitalization weighted” index.
The size of the market cap is adjusted to reflect the shares out in the public float. (That is, those that are available for the public to trade and not locked up in employee options, for example).