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Apple becomes most valuable company in history
Tuesday August 21, 2012 09:50:58 AM,
IANS
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New York: US
technology giant Apple has become the most valuable public company
in history with its market value hitting $623 billion in intraday
trading eclipsing Microsoft's record of $618.9 billion.
Apple's market value Monday topped the record set by Microsoft Dec
30, 1999, at the height of the dotcom bubble, as its stock rose to
new high of $664.74 per share, CNNMoney reported citing S&P's
senior index analyst Howard Silverblatt.
The anticipated September launch of the new iPhone, coupled with
rumours of a smaller iPad and a more feature-rich Apple TV have
lifted the stock in recent weeks.
It is a stunning achievement for a company that was a struggling
also-ran when Microsoft was setting records in the late 1990s,
CNNMoney said, noting Apple was valued at less than $10 billion as
recently as 2004, and at $100 billion just three years ago.
Since 2007, however, Apple has been an unstoppable force.
Its iPhone business alone now brings in more money than Microsoft
and the iPad has become a multi-billion dollar product for Apple.
Apple is on pace to be the world's largest technology company in
terms of sales by the end of the year, and it is among the most
profitable companies in the world, CNNMoney said.
In the last three months of 2011, Apple made $13 billion -- second
only to ExxonMobil's record-setting $14.8 billion quarter from the
fall of 2008, when oil prices were at an all-time high. Its growth
continues unabated with Apple stock soaring 64 percent in 2012.
However, Microsoft still holds the record for most valuable
company on the stock market if inflation is taken into account.
In 2012 dollars, Microsoft's all-time high would have amounted to
$851 billion.
To hit that mark, Apple's stock would have to reach $908 per
share, CNNMoney said.
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