Apple has become the world's most valuable company ever.
Today its surging stock propelled the company's value to $623bn, beating the record for market capitalisation set by Microsoft Corp in 1999.
After a four-month dip, Apple's stock has hit new highs recently because of optimism around what is believed to be the impending launch of the iPhone 5, and possibly a smaller, cheaper iPad.
Apple Inc has been the world's most valuable company since the end of last year.
It is now worth 53% more than the next most valuable company, Exxon Mobil Corp.
Apple's stock hit $664.74 in midday trading before retreating slightly to $661.70. That was $13.42, or 2.1%, higher than Friday's close.
Microsoft's 1999 peak was $620.58bn, according to Standard & Poor's.
The comparison to Microsoft does not take inflation into account.
In inflation-adjusted dollars, the software giant was worth about $850bn on 30 December, 1999. Microsoft is now worth $257bn.
Analysts believe Apple's stock has room to grow. However, investors do not believe the company can grow its sales much from current levels.
Apart from the "mini iPad" and iPhone, analysts are speculating that Apple plans to make a TV set to complete its suite of consumer electronics products.
