Apple tops all with $624B value
Apple stock has been rising, perhaps in anticipation of the release of the iPhone 5, but Monday it hit a $624 billion barrier surpassing Microsoft as the world's most valuable company. Above, an Apple store in San Francisco. (June 10, 2012) Credit: Getty Images
Apple Inc. Monday became Wall Street's all-time MVP -- that's Most Valuable Property.
That's when the computer company's surging stock propelled Apple's value to $624 billion, the highest value ever for a company. It beat the record for market capitalization set by Microsoft Corp. in the heady days of the Internet boom.
After a four-month dip, Apple's stock hit new highs recently because of optimism around what is believed to be the impending launch of the iPhone 5, and possibly a smaller, cheaper iPad.
Apple has been the world's most valuable company since the end of last year. It's now worth 54 percent more than No. 2 Exxon Mobil Corp.
Apple's stock closed at $665.15. That was an all-time high, up $17.04, or 2.6 percent, from Friday's close.
Microsoft's 1999 peak was $620.58 billion, according to Standard & Poor's. The comparison to Microsoft does not take inflation into account. In inflation-adjusted dollars, the software giant was worth about $850 billion on Dec. 30, 1999. Microsoft is now worth $257 billion.
By coincidence, the peak price for one Apple share is now less than $2 away from the retail price of the Apple I computer in 1976. It sold for $666.66.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
