Apple is now the most valuable and most influential company that the economy has ever known. On this Monday stock market valuation Apple scored $623.52 billion, setting a new record valuation and taking over the title from Microsoft.
It is not the first time when Apple takes the lead over the market. The Cupertino Company surpassed Exxon Mobil’s earnings in 2011 and Microsoft’s in 2010, but this Monday Apple has managed to score a new, historical valuation number that makes it worthy of rivaling with powerful U.S. giants as General Motors Co., and International Business Machines Corp.
Richard Sylla, professor of financial history at New York University’s Stern School of Business affirms that Apple “is one of those iconic companies. When I think about these companies, their products were used by all kinds of people and their leaders were considered geniuses.”
Apple is the company that became a standard and a source of inspiration for other tech companies and deserves all the approbation. Also, I can anticipate that Apple will break its own new record once with the release of the iPhone 5 in September.