Apple at personal best is worth $604B

Aug. 17, 2012 at 1:21 PM

NEW YORK, Aug. 17 (UPI) -- U.S. technology giant Apple is closing in on the record valuation for a corporation, a market analyst said.

S&P senior index analyst Howard Silverblatt said Apple is worth $604 billion, CNNMoney reported Friday.

Although it is the most valuable company in the world, its current value is just under the record of $618.9 billion, which was Microsoft's value in late December of 1999.

Microsoft's value has dropped. It is currently worth $260 billion.

But Microsoft's all-time record could soon fall, as Apple's largest money-maker by far is its iPhone and it is expected to launch the next generation iPhone in September.

A new iPad is also expected this year and the company's worth could increase with new developments in Apple's attempts to establish itself in the television industry.

The company's shares hit a record close on Thursday at $636.54 per share.

Its share price needs to reach $663.68 for Apple to become the most valuable company of all time, Silverblatt said.

Follow us on Facebook, Twitter, and Instagram for more news from
Related UPI Stories
share with facebook
share with twitter
Trending Stories