Why: “It’s the first time in more than 15 years that the two firms have been priced so closely. The last time IBM was worth more than Microsoft was 16 April 1996, when IBM’s market cap was $63.3 billion and its rival was valued at $61.9 billion.
Microsoft was worth nearly twice the value of IBM when both firms were at their peak value at the heart of the dot-com boom. In July 1999, IBM topped out at $253 billion; a few months later, Microsoft hit its high of $612.5 billion.”
From PCPro here.