Apple becomes most valuable company ever

Apple has overtaken Microsoft as the most valuable company of all time after its share price surged yesterday, pushing the value of the company to $623bn.

Apple shares hit a new high of $665, up $14.98 on Friday's close and 2.63% overall as speculation grew over the launch of an iPhone 5 and a smaller, cheaper iPad. Microsoft's 1999 peak was $620.58bn according to Standard & Poor's. In inflation-adjusted dollars, the software giant was worth about $850bn in December 1999, the peak of the dot com bubble. Microsoft is now worth $257bn. Apple, in contrast, is now worth more than Microsoft and Google combined. Apple has been the world's most valuable company since the end of last year and is now worth 53% more than Exxon Mobil, the world...