Apple’s Market Cap Reaches Record High, Becomes Most Valuable Company In History
If you took a quick look at a stock ticker this morning, you may have noticed Apple is doing pretty well right now. They’re up a couple of percentage points, and looks like they’re on a pretty strong upward trend right now. Cool. If you looked closer, however, you might have noticed something a bit more remarkable: their market cap is now $618.94 billion, which makes them the most valuable publicly-traded company in history.
To achieve this lofty milestone, they had to pass the $618.89 billion posted by Microsoft back in 1999. That accomplishment held the record for the last 13 years, but Apple has finally broken it. Of course, when you adjust for inflation, Microsoft’s market cap from 1999 is over $800 billion in 2012 dollars, which would make them the champ by a large margin still. Nonetheless, as far as raw dollar amount, the crown now belongs to Apple.
The recent rise of Apple’s market value is apparently the result of anticipation for their new products coming in the Fall. The iPhone 5 and the iPad Mini are expected to be big hits, and a new regular iPad, iPod Nano, and 13″ Retina Macbook might be on the way too. It’s hard to imagine the stock prices not continuing to rise upon the release of these products, particularly the iPhone 5, which is sure to sell like hotcakes.