On Monday, August 20, Apple Inc, became the most valuable company in history, based on its market value of its stocks which is valued at $624 Billion.
The maker of the iPhone and iPad devices also surpassed, Microsoft Inc, market value of $620.58 billion in 1999.
The news comes when Apple is poised to unveil the much anticipated iPhone 5 and more possibly the introduction of the iPad Mini due on September 12. Besides, there are also rumors of an Apple TV.
Apple’s shares rose to $664.74 in New York midday trading while closing at $665.15.
That’s an all time high, up by $17.04 or an increase of 2.6 percent from the closing on Friday.
Michael James, an analyst for Wedbush Morgan Securities said the record Apple set on Monday will send positive waves to the stock, especially as we are getting nearer at the end of the year.
There should be an Apple stock on every managers portfolio, he added.