Apple stock hits record value, beats Microsoft's 1999 peak
updated 07:33 pm EDT, Mon August 20, 2012
Market cap surges to $624B amid product speculation
Apple stock on Monday continued to climb, reaching a market capitalization of $623.5 billion and setting an all-time record for company value on a public exchange. The previous record was held by rival Microsoft for more than a decade, after the Windows developer reached a market cap of $618.9 billion near the peak of the dot-com bubble in 1999, though the direct comparison is not adjusted for inflation.
AAPL shares are believed to be surging due to anticipation surrounding the company's fall product lineup, which is expected to include the fifth-generation iPhone. Other rumors point to new Macs, refreshed iPods, and a new iPad that is smaller than its predecessors.
Investors appear to be unfazed by the ongoing litigation between Apple and most if its primary competitors in the tech industry. Nine jurors are currently considering the arguments in one trial that represents part of a larger patent war between Apple and Samsung, while a separate lawsuit was filed by Motorola just last week.
Apple has yet to confirm any launch plans surrounding upcoming devices, though the fifth-generation iPhone is rumored to arrive sometime next month.
