accadacca
08-20-2012, 11:21 AM
http://abcnews.go.com/images/Business/ap_apple_ll_120724_wblog.jpg
(Credit:Ed Ou/AP Photo)
Apple Inc (http://abcnews.go.com/Technology/apple-earnings-iphone-speculation-drives-earnings-ceo-tim/story?id=16848784). (Nasdaq: AAPL) set a new record as the most valuable company in stock-market history, after its stock hit a new intra-day high today. Its stock passed the $664 mark on Monday, up over 2.4 percent.
The market value of Apple, which is its stock price multiplied by the number of outstanding shares, reached $622 billion in midday trading, beating out Microsoft (MSFT), the previous record-holder, which peaked on Dec. 30, 1999.
Analysts attributed increasing buzz around Apple’s next iPhone (http://abcnews.go.com/Technology/video/apple-iphone-5-rumor-release-guide-16905596), expected to be released this fall (http://abcnews.go.com/Technology/iphone-rumor-guide-features-release-date-wait-newest/story?id=16905506#.UDJtLKmPUl8), a possible iPad mini and a Wall Street Journal (http://professional.wsj.com/article/SB10000872396390444375104577593693481339210.html?m g=reno64-wsj) report last Friday about the company’s expanded plans for a set-top box, to the jump in the stock price.
The new record does not take inflation into account, though, so Microsoft was worth considerably more in its prime. In inflation-adjusted dollars, Microsoft’s market cap was about $850 billion on Dec. 30, 1999, The Associated Press reported (http://abcnews.go.com/Technology/wireStory/apple-sets-record-company-621b-17042111). Microsoft is now worth about $257 billion. Its stock was trading around $30.76 in mid-day trading, down 0.45 percent.
Apple has been the world’s most valuable company (http://abcnews.go.com/blogs/business/2012/01/apple-is-worlds-most-valuable-company-again/) since the end of 2011. It worth 53 percent more than Exxon Mobil Corp, the second most valuable company. Shares of Exxon were trading around $87.95 mid-day, down 0.51 percent, making it worth about $405 billion.
(Credit:Ed Ou/AP Photo)
Apple Inc (http://abcnews.go.com/Technology/apple-earnings-iphone-speculation-drives-earnings-ceo-tim/story?id=16848784). (Nasdaq: AAPL) set a new record as the most valuable company in stock-market history, after its stock hit a new intra-day high today. Its stock passed the $664 mark on Monday, up over 2.4 percent.
The market value of Apple, which is its stock price multiplied by the number of outstanding shares, reached $622 billion in midday trading, beating out Microsoft (MSFT), the previous record-holder, which peaked on Dec. 30, 1999.
Analysts attributed increasing buzz around Apple’s next iPhone (http://abcnews.go.com/Technology/video/apple-iphone-5-rumor-release-guide-16905596), expected to be released this fall (http://abcnews.go.com/Technology/iphone-rumor-guide-features-release-date-wait-newest/story?id=16905506#.UDJtLKmPUl8), a possible iPad mini and a Wall Street Journal (http://professional.wsj.com/article/SB10000872396390444375104577593693481339210.html?m g=reno64-wsj) report last Friday about the company’s expanded plans for a set-top box, to the jump in the stock price.
The new record does not take inflation into account, though, so Microsoft was worth considerably more in its prime. In inflation-adjusted dollars, Microsoft’s market cap was about $850 billion on Dec. 30, 1999, The Associated Press reported (http://abcnews.go.com/Technology/wireStory/apple-sets-record-company-621b-17042111). Microsoft is now worth about $257 billion. Its stock was trading around $30.76 in mid-day trading, down 0.45 percent.
Apple has been the world’s most valuable company (http://abcnews.go.com/blogs/business/2012/01/apple-is-worlds-most-valuable-company-again/) since the end of 2011. It worth 53 percent more than Exxon Mobil Corp, the second most valuable company. Shares of Exxon were trading around $87.95 mid-day, down 0.51 percent, making it worth about $405 billion.