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Google Passes Microsoft’s Market Value as PC Loses to Web

Google Inc. has surpassed Microsoft Corp. to become the world’s second-largest technology company as computing over the Internet reduces demand for software installed on desktop machines.

Google rose 1 percent to $761.78 at the close in New York, gaining a market capitalization of about $249.9 billion. Microsoft, the world’s biggest software maker, fell less than 1 percent to $29.49, for a valuation of $247.2 billion.