NEW YORK: Will Apple, which crossed another milestone on August 20 when it became the world’s most valuable company of all time, become the first trillion-dollar company in the world?
Many analysts think so, as the Cupertino-based tech giant continues to surprise consumers and the market with its enviable line of products. Its legal victory over the rival Samsung in their patent war is a good omen for Apple’s continued super-fast growth.
At the close of markets on Aug 20, Apple’s had a market capitalization that stood at $623.5 billion, crossing Microsoft’s market cap of $620.8 billion reached in December 1999.
But if adjusted against inflation, Microsoft’s valuation of that date comes to $853 billion today.
After falling to $570 after the second quarter results, the Apple stock has reached record levels.
The surge is attributed to the upcoming iPhone, iPad mini and the rumoured Apple TV.
The IBM, which overtook Microsoft as the second most valuable tech company last year, is currently valued at $229 billion.
Once on the verge of bankruptcy, it was saved by Microsoft. Today, Apple sits on a cash pile of over $100 billion, making it the richest company in the world.