Apple became the most valuable company in history during intraday trading yesterday, as anticipation about the launch of a new iPhone allowed the California-based group to shrug off the stock market woes afflicting newer neighbours such as Facebook.
In nominal terms, at $664.74 per share, Apple’s $623.1bn market capitalisation surpassed Microsoft’s record of $620.6bn, held since 1999. The milestone, 15 years after Apple veered close to bankruptcy, leaves several former rivals in the shade.
Microsoft, whose 1997 $150m investment helped rescue Apple, is valued at about $257.6bn. Sony, with whom Apple co-founder Steve Jobs once flirted on a merger, stands at $12bn.
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