Apple just became the most valuable company of all time, and is Wall Street’s all-time Most Valuable Property (MVP).
Apple has been the world’s most valuable company since the end of last year and is now worth 54 percent more than No. 2 Exxon Mobil Corp.
Apple’s stock rose more than 2.5 percent to close at an all-time high of US$665.15, leaving the company’s market value at US$624 billion as of close of business Monday, the world’s highest ever.
The value exceeded a previous record set by Microsoft of US$620.58 billion in 1999, according to data provided by S&P Dow Jones Indices.
Calculations by Reuters show Microsoft in 1999 was more valuable than Apple in 2012, with today’s prices Microsoft shares would have been worth more than $US850 billion. However Analysts say Apple’s value has been achieved during a period of market turmoil, not a boom like Microsoft.
“We’re in a period now of much more normalcy, which makes Apple’s accomplishments even more impressive,” Harvard Business School Professor David Yoffie told Bloomberg.
“Right now this valuation is premised on iPhone 5 and a new smaller iPad coming out, and if these are very good or great products then the valuation will be easily justified,” he added.
Professor Yoffie also said it is possible that Apple’s market value could break the trillion dollar mark if it can maintain its run of developing popular products, but “If for any reason they have a hiccup on any of these products, then Apple would be vulnerable.”
[Infographic: ABC news]