Shares in Apple, which is listed on New York’s Nasdaq stock exchange, rose past $660 in early trading today taking its stock to a new height and its market capitalisation to more than $619bn (£394bn).
Apple is now worth around $200bn more than the world’s second biggest company, Exxon Mobil. The oil major is worth a mere $405bn.
The record for the most valuable company had been held by Microsoft whose market capitalisation hit €616.3bn at the height of the dot.com bubble in December 1999, according to Howard Silverblatt, an S&P index analyst in America. Now Apple’s iPhone revenues generate more than Microsoft itself, according to analysts. Apple is worth more than Microsoft combined with Google.
Some time back as reported by Century Fox Post Apple stated that Samsung had abused its monopoly powers.
Apple’s market value does not account for inflation. With inflation in account, IBM remains the historic winner with a 1967 value of $1.3 trillion, according to technology website Techcrunch.
The recent rise in Apple’s shareprice has been fuelled by expectation that a new version of the iPad will be launched in September.
Edited By Cen Fox Post Team
