Apple Inc. has just attained anew triumph on its market ventures as it sets a new record high market value for the company which soared up to $623 billion on Monday, August 20th. The new record surpasses the highest number posted by the software giant Microsoft Corp with $621 billion that made it the world’s most valuable stock record in 1999, during the peak of technology times.
A data provided by S&P Dow Jones Indices indicates that Apple Inc. closed a session high of $665.15 on Monday. And basing on the Silicon Valley giant, it posts a capitalization of $623.5 billion, which apparently exceeds the $620.8 billion crafted by Microsoft in 1999.
Prior to this, Wall Street bets on the rollout of Apple’s latest iPhone version on September 12th. People even deemed the newest iPhone as a revolutionary device in the mobile industry. Correspondingly, Wall Street seems right on its prior bet, given the 2.6 percent increase on Apple shares that manifests lately. This allows the company to obtain around 9 percent gain this month.
While Apple surpasses Microsoft’s 1999 record, the latter still holds the global title for acquiring the most valuable stock record of $621 billion in 1999. According to the Bureau of Labor Statistics’ inflation-calculator, the market value obtained by Microsoft on that year would soar up to $853.7 billion. This is considering inflation adjustments or adjustments for rising prices.
So far, the company’s biggest product, iPhone, is yielding more than half of its market sales. In 2012, the company’s shares have already mounted to 64 percent. Right now, Apple’s all new iPhone 5 is already starting to make a buzz in the global mobile industry. According to AT&T, the latest version of iPhone device is going to push 4G feature, otherwise known as the Long Term Evolution (LTE) technology. And as early as now, lot of people are eager to see Apple’s “Liquidmetal” innovation after the company was granted rights to use alloy of nickel, titanium, zirconium, copper and other metals on its patented devices. And these are purportedly going to mark on its promising iPhone 5.
The new record set by Apple on market capitalization is yet an irrefutable fact that the company is still very capable to exceed expectations despite the absence of Steve Jobs—the late Apple genius. While the company is currently entangled with its fierce competitor, Samsung, in a legal battle over patents, it seems like the case is even helping the company’s financial status.