World’s Biggest Tech Company, Not Microsoft!

Think Microsoft is the world’s biggest tech company. That’s so last month.

Apple shot past Mr. Softy as the world's biggest tech company in May, at least as measured by market cap.

At $247, Apple’s market value has now touched $225.1 billion and ahead of Microsoft's $222.7 billion, according to Reuters data.

(Market cap = shares prices x shares outstanding)

That makes the house of Steve Jobs the second-largest company on the S&P 500 index by market value, behind energy behemoth Exxon Mobil.

As you may remember earlier in the year they surpassed Walmart . It’s just the latest milestone in the resurgence of the maker of the iPhone, which nearly went out of business in the 1990s.

Can the stock possibly climb much more?

I think it can, says Joe Terranova. With all their must-have gadgets they practically own the future.

It's an amazing milestone, adds Karen Finerman. But don't think about it as a tech company. Apple is really more of a consumer products company.

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Trader disclosure: On May 26, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova owns (AXP), (BBY), (BMO), (BTU), (DIS), (FTO), (GLD), (IPSU), (OIH), (PFE), (RSX), (STLD), (SWN), (TER), (XCO), (YHOO) Kelly Owns (FCX) Calls; Kelly Owns (CLF) Calls; Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Calls; Finerman Owns (BAC), (BAC) Preferred; Finerman Owns (GOOG); Finerman Owns (GS) Calls; Finerman's Firm And Finerman Own (HPQ); Finerman's Firm Owns (JPM), (J)PM) Calls; Finerman Owns (JPM); Finerman's Firm And Finerman Own (RIG), (RIG) Calls; Finerman's Firm Owns (KFT); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM); Finerman's Firm Owns (PM); Jon Najarian Owns (BAC); Jon Najarian Owns (BP); Jon Najarian Is Short (MCO); Jon Najarian Owns (C); Seymour Owns (BAC), (AAPL), (GOOG), (VIP

For Tim Seymour

Seygem Asset Management Owns (VALE)
Seygem Asset Management Owns (VIP)

For JoeTerranova

Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (DRYS)

For Brian Kelly
Kanundrum Capital owns U.S. Dollars
Kanundrum Capital owns (TLT)
Kanundrum Capital owns (GLD)
Kanundrum Capital owns (GFI)
Kanundrum Capital owns (AUY)
Kanundrum Capital owns (SRCL)
Kanundrum Capital owns (LIFE)
Kanundrum Capital owns (CXW)
Kanundrum Capital owns (FCX)
Kanundrum Capital owns (CLF)
Kanundrum Capital is short Euro
Kanundrum Capital is short Yen
Kanundrum Capital is short Swiss Franc
Kanundrum Capital is short UK Pound
Kanundrum Capital is short (XLF)
Kanundrum Capital is short (XLK)
Kanundrum Capital is short (XLI)
Kanundrum Capital is short (DOW)

For Anthony Scaramucci
Scaramucci and SkyBridge owns (AAPL)
Scaramucci and SkyBridge owns (EBAY)
Scaramucci and SkyBridge owns (GOOG)
Scaramucci and SkyBridge owns (MSFT)
Scaramucci and SkyBridge owns (INTC)
Scaramucci And Skybridge Own (KFT)

For Mike Khouw
Cantor Fitzgerald Is A Market Maker In (SPY)

For Brad Hintz
Hintz Owns Morgan Stanley And Discover
Hintz Owns (CME)
Accounts Over Which Bernstein And/Or Affiliates Exercise Investment Discretion Own More Than 1% Of (GS)
(GS) Is Or In Past 12 Months Was A Client Of Bernstein (Non-Investment Banking, Securities-Related Services), Bernstein Received Compensation
An Affiliate Of Bernstein Received Non-Investment Banking Compensation From (GS)
Bernstein Or Affilaite Expects To Receive/Seek Investment Banking Compensation from (GS) In Next 3 Months

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