Historic Day for Apple edges out Microsoft as Most Valuable Public Company
Apple today became the most valuable public company in history, edging out Microsoft that has held the title since 1999. Shares of Apple’s stock rose and ended the day at $665.15 per share amidst rumors of the release of the iPhone 5 as well as a new, smaller, iPad, which is expected to be announced on September 12th.
The company now worth roughly $623B is estimated to continue to grow, with analysts favoring it to reach even further heights. Speculation is that Apple will go up another $100 over the next year.
Though Microsoft has held the title for 13 years it has not been able to reach the valuation it once had at the height of the tech and dot com boom. Microsoft is betting big on Windows 8 and the cloud, but it would be hard to get back to its glory at the top considering Apple’s successes with products.
The iPhone and iPad rumors have been big news but Apple has also been making headlines with its very public trial with Samsung over patent infringement. Apple has accused Samsung of stealing its patents and design elements from the iPhone. The trial ended the week with the proceeding being handed to the jurors for final determination.
Even given the lawsuits Apple is in a good place. Apple’s products continue to sell and they continue to push the envelope for user experience whether it is in their products, retail stores, or customer service. There seems to be no slowing and if analysts have it right, the near future will hold a place for Apple that will be hard for any other company to reach.