As of the closing bell yesterday, Apple (AAPL) became the most valuable company in history. The company’s share price closed today at $665, but achieved the milestone at the $662 price point, creating a market capitalization of $622.7 billion. The total surpasses the previous record held by Microsoft in December of 1999, the height of the dot com bubble.
The achievement although incredible is not as stellar when we factor in our eternal friend Mr. Inflation. According to VentureBeat and this Tweet, Microsoft at its market cap peak of $618.9 billion would have been worth approximately $850 billion today. This means that Apple still has some ways to go before earning ultimate bragging rights.
As mentioned on our site earlier this week (TQ was on it), the iconic brand’s shares have seen a steady push due to its upcoming sixth generation iPhone, smaller iPad as well as possible changes to the AppleTV concept that will make them a major player in television.
In terms of International valuations, Apple also falls short of Chinese oil company PetroChina. According to Business Insider, the national owned company hit an IPO high of $1 trillion in 2007 who are currently worth $253 billion.
Congrats to Apple on the fantastic achievement. They might hit an even higher point before the end of December thanks to the big months they have coming up.
Canadian IT Company CGI Group Acquires Logica for $2.7 Billion
Will Powell Uses Raspberry Pi Device to Create Glasses that Translates Language in Real Time
Lunches So Good Kids Can’t Ignore Them
Invigorating Ginger Smoothie
The U.K.’s Youngest Parents Ever
The new hair Jennifer Lawrence