Apple has officially become the most valuable company of all time as a 2.6 per cent rise in stock prices sees the Cupertino based iPhone and iPad giant valued at a staggering $623 billion (£397bn).
With stock prices hitting new record highs as the iMac and iPod manufacturer gears up to the eagerly awaited Apple iPhone 5 release date, Apple’s lofty new valuation has seen the company surpass bitter rival Microsoft to become the most valuable firm in history.
Although the current figure does not take into account inflation, Apple’s latest $623 billion valuation is over $2 billion more than the previous record set by Microsoft back in 1999 when the Windows software behemoth rode the dotcom boom to a net worth of $620.58 billion.
Hitting the new heights yesterday, Monday August 21st, Apple saw its stock prices shoot up 2.6 per cent on Friday’s closing price with the $17 per share rise seeing stocks take on the new closing price of $665.15 (£421.94).
Increased interest in Apple stocks comes just weeks before the tech company is expected to expand its products portfolio with the official Apple iPhone 5 release, a handset that is tipped to be increasing from 3.5 to 4-inches in sizes whilst being the first device to support the company’s heavily rumoured new 9-pin connection dock standard.
With the iOS 6 powered handset set to follow-on from the iPhone 4S in a bid to take on the recently released Samsung Galaxy S3 powerhouse, Apple is also heavily rumoured to be planning to further enhance its selection of market dominant iPad tablets with the March 2013 iPad 4 release tipped to be preceded by the arrival of a smaller, cheaper iPad mini model.
Rumoured to be heading to market as a more direct Google Nexus 7 competitor the Apple iPad mini is said to line up at 7.85-inches in size with a reduced array of specs wizardry being paired with a lower, more entry-level competitive price point.
On top of this Apple’s share prices have been further bolstered by speculation the company is readying its first entrant into the television sector with Apple iTV tipped to build on the company’s existing Apple TV service and reputation for incorporating stunning displays in a full internet-connected Apple branded television set.
Which rumoured Apple product would you most like to get your handset on, the Apple iPhone 5, Apple iTV or Appel iPad mini? Let us know via the comments box below or through the Trusted Reviews Twitter and Facebook feeds.