There is good news for all those Apple fanboys out there. Apple has overtaken Microsoft to become the most valuable company ever in the history. Now Apple has a market capitalization of $623.5 billion which gives it a considerable lead of 2.6 percent up on the stock closing.
As per reports from S & P Dow Jones index, Apple has succeeded with over $200 billion over Exxon Mobil, which is placed second with a market capitalization of $405 billion. The third, fourth and fifth places went to Microsoft, Wal-Mart and IBM respectively.
Impact of iPhone 5 and iPad Mini
As per the numerous reports, the market capitalization of Apple got escalated especially with the affect of ongoing rumors related to the release of highly-anticpated smartphone of the year iPhone 5 and the much-awaited and innovative iPad Mini. The Cupertino-giant is confident of boosting the sales with these upcoming releases, especially with the integration of the advance features and specifications. Reportedly, iPhone 5 is expected to be announced by the month of September.
Apple to hit $1 Trillion Value?
Recently, reports came online suggesting that Apple will hit the price target of $1,072 to become world’s first trillion dollar company. Last week, Analyst firm Jefferies boosted the price target of Apple up to $900. Apple had a very good going in most of the benchmark indexes throughout the year. The latest reports confirm Apple’s strong standing in the stock market and company admirers expect the firm to touch the magical I trillion dollar mark soon.
Apple’s influence on Tech Sector Index
Industry Benchmark firm S&P 500 has also scaled up the tech sector by up to 16 percent. The company sources have quoted Apple to be a major reason for this surge in positive growth in the tech sector. This is evident from that fact that leaving Apple from the calculation can downgrade the tech sector index by a significant 3.7 percent. Hence, all is looking good for Apple in terms of their long term outlook.