Apple Passes IBM in Profits

Tuesday, 19 October 2010 | by Pat's Picks

Ten years ago, who would have guessed that you’d see this headline in the Wall Street Journal?: “Apple Profit Muscles Past IBM.”  Apple managed a 70-percent surge in their profits last quarter, says the Journal, making their stock $100 billion more valuable than IBM’s. The Journal says the news “illustrates how consumers are now driving much of the technology innovation, a flip-flop from when big tech companies such as IBM led the way in developing innovative technology for businesses and then saw those innovations trickle down to consumers.”