When the markets open this morning, Google will — for the first time — be valued higher than Microsoft.
Google’s stock closed Monday at $761.78 per share, then dropped 68 cents per share in after-hours trading. That gave Google a market cap of a little more than $249 billion.
Microsoft’s stock closed Monday at $29.49 per share and then gained a penny per share after hours. Microsoft’s market cap currently sits at a little more than $247 billion.
As the New York Times reports, Google’s Monday surge also put its market cap above Walmart, making Google the third-most valuable company in the world. Apple is first with a $618 billion market cap, and Exxon Mobil is second at almost $424 billion.
Market cap is determined by multiplying the total number of shares outstanding by the current price per share.