Apple becomes most valuable company of all time
Posted on: 21 Aug 2012
NEW YORK: Apple Inc became the most valuable public company of all time on Monday, after its market value climbed beyond $620 billion to surpass a milestone set by Microsoft Corp more than a decade ago.
Its shares were up 2.3 per cent at $662.73 in afternoon trade, after having gained more than 8 per cent this month as Wall Street bets on the Sept. 12 rollout of the latest version of the iPhone, the device that revolutionized the mobile industry.
Apple shares reached a high of $664.74 in the morning, giving them a value of $623.14 billion. They edged past the record of $620.58 billion set by Microsoft in 1999 at the height of the tech bubble, according to data provided by S&P Dow Jones Indices. The data, however, did not take into account the impact of inflation.