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“Apple’s revenue growth continues to outpace, driven by market-changing innovation and sticky software offerings that lead to repeat purchases,” said David Dillon, a portfolio manager at HighMark Capital Management, which owns both Apple and Microsoft shares.

He said Microsoft is more of a value-based play, with “a strong product cycle coming with Windows 7.”

Apple’s revenue is still far smaller than that of its arch nemesis, but it is growing at a more rapid rate. Apple’s annual revenue has more than doubled since 2005 to $36.5 billion, with earnings per share up more than four-fold to $6.29.

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