Apple bigger than Microsoft or Google on price:earnings scores

Yesterday Apple became the world's biggest IT company by market value, eclipsing Microsoft for the first time since 1989, and even Google.

Even so, it is not the most expensive company. That is EMC, the storage company, if one goes by the price-to-earnings ratio.

Analysts say the event is a milestone in the way the development of the industry from hardware to enterprise services to consumer services.

It is also seen as a vindication of Steve Jobs, the man who founded the firm, was sacked, returned to rescue the company, faced death from pancreatic cancer, and has now triumphed.

He once said Apple's purpose was to produce products that were "insanely great". That would not be a bad description of his achievement to date.