Apple Achieves Another Milestone (AAPL)

PUBLISHED: Aug 21 2012 @ 09:42 | Comments (0) | More info about Ed Liston

Apple Inc. (NASDAQ:AAPL), one of the most innovative companies in the world, on Monday became the largest company in terms of market capitalization in U.S. stock market history. The record was previously held by Microsoft Corporation (NASDAQ:MSFT).

After Monday’s market close, Apple’s stock market value stood at $623.52 billion in nominal terms, which was more than Microsoft’s $616.34 billion, back in December 1999.

According to market research agency FactSet Research, Apple’s stock market value exceeded that of its nearest rival Exxon Mobil Corp. (NYSE:XOM) by more than $200 billion—a difference which is as large as the market capitalization of technology giant International Business Machines Corp. (NYSE:IBM).

Apple’s market cap has touched its peak at a time when nobody really anticipated. This is because; Apple’s co-founder and a very charismatic leader, Steve Jobs died last October, creating doubts over Company’s future. Recently, the company also posted lackluster sales and earnings in its most recently reported quarter.

However, the bigger challenge for Apple now is for how long it can continue to fascinate customers with its product line. While iPhone with a wider screen and a smaller iPad are keenly anticipated, Apple’s intense focus on creating device that can carry live television can prove to be next big breakthrough innovation.

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