“Apple, whose price hit $500 for the first time on Monday, could be the first company ever to reach a trillion dollar valuation,” Bertha Coombs reports for CNBC. “The tech giant’s valuation is now nearly halfway to the 10-figure mark, with speculation Apple will launch iTV later this year driving shares to new record highs.”
“The company’s valuation is about $460 billion — roughly $8 billion more than the market caps percent of Google ($198 billion) and Microsoft ($257 billion) combined,” Coombs reports. “If Apple shares continue to hit new record levels, its market cap will reach $500 billion when the price reaches $537. Still, shares will need to rise another $100 above that level to put Apple in contention for the most expensive company ever.”
Coombs reports that Microsoft “still holds the record for the most expensive valuation. Its market cap closed out 1999 at just over $600 billion according to Standard and Poor’s, before peaking north of $650 billion during the tech bubble in 2000.”
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