Bloomberg: On Thursday, IBM's market value climbed to $214 billion, while Microsoft’s market value dropped to $213.2 billion. It was the first time since 1996 that IBM was worth more than Microsoft. The change also made IBM the fourth most valuable company in the world, and the second most valuable tech company. (Apple is still the world's most valuable company.)
This year, IBM's stock price has gained about 22 percent, and Microsoft's has fallen approximately 8.8 percent.