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IBM Tops Microsoft in Market Value for First Time Since 1996

International Business Machines Corp. passed Microsoft Corp. in market value based on closing share prices to become the world’s second-most valuable technology company, according to data compiled by Bloomberg.

IBM rose $1.62 to $179.17 at 4 p.m. on the New York Stock Exchange, giving it a market value of $214 billion. Microsoft fell 13 cents to $25.45 on the Nasdaq Stock Market, giving it a market value of $213.2 billion.