Apple sets record for company value at $624B
NEW YORK (AP) – Apple is Wall Street's all-time MVP – that's Most Valuable Property.
On Monday, Apple's surging stock propelled the company's value to $624 billion, the world's highest, ever. It beat the record for market capitalization set by Microsoft Corp. in the heady days of the Internet boom.
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.
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