Apple becomes most valuable company of all time

Steve Jobs’ legacy became the most valuable company of all time overnight, as Apple’s market value rose above US$620 billion ($596.8 billion).

Shares have gained over 8 percent this month, which analysts are attributing to the impending release of the new iPhone, and now sit at US$662.73 per share.

According to Reuters and S&P Dow Jones Indices, Apple’s value has now passed a record set by Microsoft in 1999 of US$620.58 billion.

Last year, Apple overtook Exxon Mobil to become the world’s largest public company. Its rising share value means it has now become the biggest company, ever.

It is rumoured that Apple will unveil the latest iPhone on September 12, with some analysts tipping it will also release a smaller version of the iPad, as it faces increasing competition from rivals like Samsung and Amazon who are selling lower-cost, 7” tablets.

If you place any store in rumours, the new iPhone is said to have a larger screen and a thinner body, as well as a re-sized charging port. The iPad Mini will likely be cheaper than the full sized iPad, and be 7 inches from corner to corner.

Apple has yet to announce whether it is holding a launch event next month.

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