Apple is most valuable firm of all time – but Facebook shares hit new low

Dominic Rushe , The Guardian:

Apple has become the most valuable company of all time, surpassing a record set by Microsoft in 1999.

Shares in the tech giant hit a high of $664.75 (£422.50) in Monday morning trading, valuing the company at more than $619bn. The price topped the $618.9bn Microsoft achieved in December 1999.

In January, Apple surpassed oil firm Exxon Mobil for the first time to become the most valuable company on the planet. It now dwarfs Exxon’s $405.6bn market value by more than $213bn.

The company’s shares dropped dramatically in July as sales figures disappointed analysts, even as profits rose 21% year-on-year to $8.8bn (£5.6bn).

But shares have risen again on rumours that Apple is planning to launch a smaller version of its top-selling iPad and is close to making a new push in the TV market, which has long been a target for chief executive Tim Cook… Read more

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