Apple Becomes Most Valuable Company In History
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MIAMI (CBSMiami) – Apple Computers continues to set records, this time with the company’s soaring stock putting Apple into a position few could ever reach: most valuable company, ever.
According to USA Today, Apple’s stock pushed to more than $661 a share through morning trading. The rapid increase in the stock’s price pushed company’s worth to $621 billion, which beat the record onkce held by Microsoft during the Internet boom.
Apple has long been the world’s most valuable company, passing Exxon Mobil last year. According to USA Today, Apple is now worth 53 percent more than the oil and gas giant.
The reason Apple’s stock has soared in recent weeks is the anticipation over the iPhone 5 and the possibility of a smaller, cheaper iPad. Over the past month, Apple’s stock has increased nearly $100 in value.