Apple, which is already the world’s most valuable company, was worth more than $700 billion in market capitalization today. Its stock hit another all-time high as well. In total stocks have gone up 48 percent this year and Apple announced its first stock split in nine years. It’s not entirely true that Apple is the world’s most valuable company: while it’s the first S&P company to be worth more than $700 billion, Microsoft had a greater market cap 15 years ago. If adjusted, its $613 billion value in 1999 would be worth $874 billion right now. Right now, Microsoft is worth about $394.
On Tuesday, Apple Inc. shares went up to $119.59. This milestone also means the company has doubled its market cap since Tim Cook took over in 2011. Confidence in the tech giant has been increasing since coming out with larger-sized iPhones this fall and then faster, thinner iPads last month. An analyst at Cantor Fitzgerald, Brian White, said “Given Apple’s significant portfolio refresh over the past three months, the lack of innovation from competitors and a constructive spending backdrop in the U.S. market, we believe Apple has opportunity to shine bright this holiday season.”
