Apple Chief Executive Steve Jobs wowed a packed room on Monday with the new $ 199 "iPhone 4," which is a quarter slimmer than the current handset, with about double the picture quality; sports the in-house A4 processor or computing brain; and allows video chat.

Apple overtakes Microsoft ! The moment came on Wednesday when Apple, the maker of iPods, iPhones and iPads, shot past Microsoft, the computer software giant, to become the world's most valuable technology company.