David Berman in Seeking Alpha provides a brief analysis of how Apple became more valuable to the stock market than long time nemesis Microsoft:
Looking back, it might have been difficult for most investors to see Apple’s potential as it transformed itself into a music and entertainment behemoth. But as for Microsoft, the signs of its stagnation have been fairly clear: Who isn’t frustrated with its Windows products? What innovations has Microsoft delivered to customers over the past decade? And who sings the praises of its top leaders?
Everyone. None. No one.