Record breaking after record breaking, Apple sets one of the most impressive records to date. Microsoft has held the title of most valuable publicly-traded stock ever since 1999, but Apple broke the record yesterday as the company’s stock price hit over $660.
Microsoft’s market capitalization peaked on December 30, 1999, reaching an intraday high of $119.94 per share. With Microsoft having documented 5,160,024,593 outstanding shares as of October 31, 1999 in its quarterly earnings report, the company would have had a market capitalization of $618.89 billion on December 30.
Apple’s most recent quarterly filing listed 937,406,000 outstanding shares as of July 13, 2012, and with the company’s stock price hitting $660.73 today, its market capitalization reached $619.37 billion.
In inflation-adjusted terms, Microsoft’s December 30, 1999 market capitalization would be around $842.5 billion in today’s dollars. This means Apple still has a long way to go when you look at it like that. Apple’s stock closed at $665.15 yesterday, with a market capitalization of $623.5 billion. Maybe, just maybe, Apple might reach a market capitalization of 1 trillion dollar at the end of next year.