{"id":13891,"date":"2012-08-20T04:08:04","date_gmt":"2012-08-20T04:08:04","guid":{"rendered":""},"modified":"2012-08-20T04:08:04","modified_gmt":"2012-08-20T04:08:04","slug":"Apple-dethrones-Microsoft-as-most-valuable-company-ever","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=13891","title":{"rendered":"Apple dethrones Microsoft as most valuable company ever"},"content":{"rendered":"

Apple today dethroned longtime rival Microsoft as the most valuable company in history based on the value of its stock, which climbed to around $622 billion.<\/strong><\/p>\n

Apple’s stock began a steady rise late last week and hit a new high of $664.75 a share near midday today on the Nasdaq exchange amid rumors the tech giant is poised to release new versions of iPhone, iPad, and Apple TV devices.<\/strong><\/p>\n

Apple topped the record of nearly $619 billion set by software titan Microsoft in 1999<\/strong>, during the famed dot-com boom years.<\/p>\n

Apple shares began a rapid ascent on Friday after Jefferies investment bank analyst Peter Misek predicted the stock will hit $900 and predicted that the arrival of the iPhone 5 “will be the biggest handset launch in history.”<\/strong><\/p>\n

Jefferies reasoned that Apple is positioned to take a significant portion of the profit to be generated by hot trends in smartphones, tablet computers, and gadgets linking to the Internet on latest-generation 4G networks<\/strong>.<\/p>\n

The Internet has been abuzz with unconfirmed reports that Apple will introduce a new iPhone<\/strong>, perhaps with a larger screen, at a press event in September.<\/p>\n

The Cupertino, California-based company is also believed to be readying a smaller version of its market-ruling iPad, and a revamped Apple TV box, referred to unofficially as “iTV,” that routes video or programming to televisions.<\/p>\n

“We believe the iTV is in full production,” Misek said.<\/p>\n

The surge in Apple’s stock price demonstrated the powerful expectations for the next generation of gadgets from the culture-changing company, according to Wedbush Securities managing director of equities trading Michael James.<\/p>\n

Investors also see promise in hot new Apple gadgets hitting the market in time for year-end holiday shopping, when the company’s products typically shine, James added.<\/strong><\/p>\n

Source AP<\/em>
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