Market value exceeds $623bn, surpassing the record of $620.5bn set by Microsoft in 1999 as speculation of the launch of a new iPhone and smaller iPad intensify
Apple became the most valuable company ever on Monday, with a market value of around $623 million (£397bn). It surpasses Microsoft’s record of $620.58bn set in 1999, but that figure is not adjusted for inflation.
The new record comes as anticipation grows for the anticipated launch of its next iPhone device, rumoured to take place on September 12.
There has also been speculation a new smaller iPad tablet device will be launched on the same date to go head-to-head with the cheaper versions now being sold by Google and Amazon.
Apple’s shares, which are listed on New York’s Nasdaq stock exchange, have risen 64 per cent this year and yesterday closed at a session high of $665.15 to take its stock to a new high.
Microsoft is today valued at nearly $258bn, while Sony’s valuation stands at $12bn. Apple is now worth around $200bn more than the world’s second largest company, Exxon Mobil, which is now worth $405bn.