It is official—Apple has surpassed Microsoft to become the most valuable company of all time.
According to a report by The Guardian, Apple’s stock reached an all-time high of USD$664.75 per share on Monday—valuing the company at more than $619 billion—beating the previous record of $618.9 billion set by Microsoft in 1999.
The reason for Apple’s rise could be attributed to their unannounced iPhone 5 and rumors of the company’s plan to launch a smaller version of the iPad into the market.
The company’s share price was only $378.55 on 5 October 2011, the day that Apple’s co-founder and CEO, Steve Jobs, passed away.
However, since his death, Apple has reported record sales and its share prices have soared since.
[via The Guardian]