Today Microsoft is riding the upside wave stirred by Intel's last night's release of blowout earnings. Intel and Microsoft (News - Alert) are not as bound as they once were (ala Wintel), but the companies' fortunes are still strongly linked together.

 

About a month or so ago Apple overtook Microsoft's top spot in terms of market capitalization and had been building a sizeable margin. Then the iPhone4 troubles surfaced, Consumer Reports gave it a scathing review, and rumors have been circulating about a possible recall. All that has served to depress Apple's (News - Alert) stock as of late. It was down even yesterday amidst a market rally.

 

Microsoft, already bruised and battered by mobile missteps, online ventures gone nowhere, and Vista, is finally showing some promise. Windows 7 has been positively received, Bing is ever so slowly gaining market share, and Windows Phone (News - Alert) 7 is …, Ok we don't know how that's going to work out, let's just say it's in the offing.

 

So with Intel's positive news, could today be the day that Microsoft will topple Apple from its top market cap perch? It's within a $4 billion striking distance as of this writing (Microsoft at $223 billion and Apple at $227 billion), a mere nudge is all it takes. May the best stock win.