Apple Is the Most Expensive Company in History
For now the technology giant Apple is the most valuable company in the world. Today its market value reaches around $623 billion (£397 billion). With that amount the device maker hits the record of Microsoft that in 1999 gained $620.58 billion (if not to take inflation into account). If adjusted for the inflation, the 1999 price of Microsoft still has the highest market value with $850 billion (£541 billion). Today Microsoft holds the price at $257 billion (£163 billion).
On August 20 Apple’s share price established at $664.74 trading in New York and rose up to $665.15 at the end of the day. The company was the most valuable world’s firm already at the end of 2011 and today its price is 53% higher than Exxon Mobil, the company that holds the second place.
PetroChina, the biggest Chinese oil company, could have set the record with its $1 trillion in 2007 on the Shanghai stock exchange, but that price wasn’t confirmed at other exchanges. According to its trades in the New York and the Hong Kong Stock Exchange, PetroChina was worth around $500 billion.
Such high Apple price may be connected with the future launch of its new devices like iPhone 5 and smaller version of iPad. According to rumors, Apple is also about to create its own TV set.
Despite all its success, Apple survives difficult times. The US economy remains weak and the unstable dollar makes the US-made devices more expensive for customers of other countries. The company also survives rivalry from such device makers as Samsung and HTC.
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