• IS provokes sea-change

    It has been a grave mistake to defy both Russia and France, says Leopold Scholtz.

  • Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

All data is delayed
See More

Apple the world's most valuable company

Aug 20 2012 19:19

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


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
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

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

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote