Apple tops Google as Silicon Valley king

A report at the link below says the success of Apple’s iPhone fuels huge surge in share price while a fall in online advertising hits Google's profits.

The sleek, touchscreen iPhone (pictrued) has proved so lucrative for Apple that the electronic gadgets manufacturer has unseated Google to become the most valuable company in America's cradle of technological innovation, Silicon Valley.

Queues outside Apple's stores are commonplace since the phone's launch a year ago as shoppers line up to get their hands on the prized device.

Apple's predominance amounts to a shift in the balance of power in the hi-tech world. The company has repeatedly been able to eclipse rivals with its distinctive, easy-to-use designs. The iMac and the iPod continue to be firm favorites among computer buyers and music fans.

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