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Apple ends trading day as most valuable company ever

August 20, 2012|By Salvador Rodriguez
  • The Apple store in New York.
The Apple store in New York. (Don Emmert/AFP/Getty Images )

Add another item to Apple's list of accomplishments: it's got the record for being the most valuable company ever.

As of the close of the stock market Monday, the Cupertino, Calif., tech giant's market value has climbed to $622.92 billion, breaking the previous record of $618.9 billion set in 1999 by Microsoft.

And while Microsoft still has the record when the cost of inflation is applied (which raises it to $850 billion), that does nothing to help the Redmond, Wash., company now, which is worth about $257 billion.

Besides the market value record, Apple's stock price also had a good day, closing up more than 2.6% at $665.14 per share.

Apple is heavily rumored to come out with the sixth generation of the iPhone, its flagship device. And with significant changes anticipated, sales should be good.

But on top of the next iPhone, Apple is also rumored to possibly come out with a brand new product: the iPad mini, a smaller version of its tablet computer.

The iPad mini, which is rumored to have a 7.85-inch screen, would compete in the junior league of tablets and take on the Nexus 7 and Kindle Fire.

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