• Restoring sanity to SA

    We should be driven by the thought that SA belongs to all who live in it, says Solly Moeng.

  • Clamouring for action

    2017 will see battles between politicians as well as those tired of politicking, says Daniel Silke.

  • Realistic dreaming

    Preparation and sound advice will turn entrepreneurial dreams into reality, says Ian Mann.

All data is delayed
Loading...
See More

Apple the world's most valuable company

Aug 20 2012 19:19
Sapa

New York - On Monday, its surging stock propelled the company's value to $623bn, beating the record for market capitalization set by Microsoft Corp. in the heady days of the Internet boom.

Apple's stock has 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 Inc. has been the world's most valuable company since the end of last year. It's now worth 53% more than No. 2 Exxon Mobil Corp.

Apple's stock hit $664.74 in midday trading before retreating slightly to $663. That was $14.98, or 2.3%, higher than Friday's close.

Microsoft's 1999 peak was $620.58bn, 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 $850bn on Dec. 30, 1999. Microsoft is now worth $257bn.

Analysts believe Apple's stock has room to grow. The average price target of 38 analysts polled by FactSet is $745.80.

Apart from the iPhone and "mini iPad," analysts are speculating that Apple plans to make a TV set to complete its suite of consumer electronics products. Apple usually doesn't comment on its future product plans until a few weeks or days before a launch.

China's largest oil company, PetroChina, was briefly worth $1 trillion after it listed on the Shanghai stock exchange in 2007, but only based on its price on that exchange. Its shares also trade in Hong Kong and on the New York Stock Exchange. Based on trading there, its market capitalization never went as high as $500bn.

*Follow Fin24 on Twitter, Facebook and Google+.

apple  |  microsoft  |  shares

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
4 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about: SMALL BUSINESS

From fossils to finance – that’s been the career trajectory of Dr Merrill van der Walt, a palaeontologist until recently. She is now a statistician with a difference.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

SA's avoidance of junk status by rating agencies: Moody's and Fitch

Previous results · Suggest a vote

Loading...