Insanely Great: Apple the most valuable company of all time

Apple Store Shanghai
Apple Store Shanghai

Apple is now the most valuable company of all time, with a market value of approximately $623 billion, surpassing Microsoft’s record of $620.58 billion set in 1999. Apple shares hit $664.74 in New York midday trading, and closed at $665.15.

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In its last quarterly financial results for fiscal 2012, Apple posted a quarterly revenue of $35 billion with a quarterly net profit of $8.8 billion, an increase over its $28.6 billion revenue and $7.3 billion net profit in the year ago quarter. This fell short of industry estimates.

The tech giant is expected to unveil the much-awaited new generation iPhone (“iPhone  5”) and rumoured 7-inch iPad mini later next month. A much speculated Apple TV is also rumoured to be announced soon.

Despite being a year old, the iPhone still saw sales grow 28% over the year ago quarter with Apple selling over 26 million units last quarter. The smartphone space has seen the explosive growth of Android, especially globally, but Apple still has the edge in the US.

Apple has also seen good Mac sales, thanks to the new line-up of MacBook Pros, including the revolutionary MacBook Pro Retina Display and the latest iteration of OS X Mountain Lion. Mountain Lion saw 3 million downloads in the first four days it was launched on the Mac App Store in July, making it the most successful OS X launch in Apple history.

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So again, the world waits as the Cupertino company prepares to unleash its next generation products.

Source: BBC

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