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IBM Tops Microsoft to Be Second-Most Valuable in Technology

International Business Machines Corp. passed Microsoft Corp. to become the world’s second-most valuable technology company, a reflection of industry changes including the shift away from the personal computer.

IBM’s market value rose to $214 billion yesterday, while Microsoft’s fell to $213.2 billion. It’s the first time IBM has exceeded its software rival based on closing prices since 1996, according to Bloomberg data. IBM became the fourth-largest company by market value, based on yesterday’s closing price, and, in technology, trails only Apple Inc.