Apple's stock market capitalization (AAPL) has not yet quite surpassed Microsoft's (MSFT), but the value of its actual business is now higher.
Specifically, Apple's business is now worth $200 billion, while Microsoft's is only worth $197 billion--at least by one simple calculation of enterprise value.*
What's the difference between a company's stock market capitalization and the value of its actual business (which is referred to as "enterprise value")?
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