Apple passes Microsoft's record
Wed, 22 Aug 2012 9:02a.m.
Apple's surging stock has propelled the company's value to US$624 billion, the world's highest, ever - beating the record for market capitalization set by Microsoft.
Watch the video to see technology commentator Steve Simms speak to Firstline this morning.
After a four-month dip, Apple's stock has hit new highs recently because of optimism around what is believed to be the impending launch of the iPhone 5, and possibly a smaller, cheaper iPad.
Apple is now worth 54 percent more than No. 2 Exxon Mobil Corp, and analysts believe the launch of a new iPhone in a month or two will be Apple's biggest product introduction yet.
Apple's stock surge has made it a major part of many investment portfolios, often without the investors realizing it. The company makes up 4.7 percent of the value of the S&P 500 index, which is used as the basis for many mutual funds.
By coincidence, the peak price for one Apple share is now less than US$2 away from the retail price of the Apple I computer in 1976. It sold for US$666.66.
3 News / AP
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27/08/2012 9:28:07 a.m.
Brother Paul wrote:
Apple stocks have soared, eh? Not unexpected by us Apple-watchers.If only NZ's Super and Kiwisaver funds had been invested there when the iPod became so successful. NZ needs to watch for the next big thing from Apple and jump aboard quickly. They might make some money.
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