Apple hits record high

Apple hits all time high Apple has become the world’s most valuable company of all time after a surge in stock propelled its value to US$623bn.

Surpassing Microsoft’s milestone over a decade ago, Apple’s stock has hit new highs following a four-month lull as the California-based company looks set for its biggest ever product launch.

With the impending release of the new iPhone 5 and potentially a smaller, cheaper iPad, Apple is now worth 53% more than Exxon Mobil Corp, the world’s second most valuable company.

In 1999, Microsoft peaked at $620.58bn but as Apple’s stock hit $664.74 during midday trading on Friday, it was clear this feat would be surpassed.

Fresh from the news, and record-breaking monthly sales in July, Apple is preparing for its biggest second-half product launch in history.

Suppliers for the California-based company reported their best monthly figures last month, with the firm’s ‘Apple Monitor’, a sales tracking device, rising by 14%.

The results suggest Apple is set to release a host of new products in the second-half of the year, with an announcement scheduled for September 12.

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