Apple’s stock has taken down several major milestones in the past couple of days. Last Thursday, AAPL closed at an all-time high of $636.34 per share, and it has since surpassed its all-time high of $644.
Today, the stock is trading at a staggering $665. And given the fact that it has 937.41 million shares outstanding, that gives it a market cap of $623.05 billion — the highest ever for a publicly-traded company…
Apple surpassed the record for highest market cap today, a title held by Microsoft since late 1999.
MacRumors does the math:
“Microsoft’s market capitalization peaked on December 30, 1999, reaching an intraday high of $119.94 per share. With Microsoft having documented 5,160,024,593 outstanding shares as of October 31, 1999 in its quarterly earnings report, the company would have had a market capitalization of $618.89 billion on December 30.”
The site goes on to point out that if adjusting for inflation, Microsoft still retains the title by a hefty margin. And there are a few other technical caveats. But on paper, by the numbers, Tim Cook’s team takes the cake.
Apple’s recent surge in popularity with investors can be attributed to a couple of factors. For one, the company just handed out its first dividend in the last 15 years. And it has an extremely powerful 6-month forecast.
Next month, Apple is expected to unveil several new products, including an all-new iPhone, a smaller tablet, and a line of revamped iPod products. Needless to say, analysts are expecting a record-breaking holiday quarter.