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Apple- the world’s most valuable company of all time

in International Business

Apple- the world’s most valuable company of all time

With a market value of approximately USD 623bn surpasses Microsoft’s record of USD 620.58bn set in 1999. (Figure not adjusted for inflation).

The company’s shares closed at USD 665.15, 2.6%, higher than Friday’s close.

The news comes ahead of the anticipated launch of the iPhone 5, and possible a smaller and cheaper iPad.

There are speculations that Apple plans to make a TV set.

Despite its market valuation, Apple faces many challenges.

The company’s products remain vulnerable to the recession in major markets such as Europe, making it difficult for the firm to sell consumer electronics.

The strength of the US dollar against the euro and other currencies make the products more expensive overseas.

Last but not the least, Apple faces stiff competition from Samsung’s Galaxy S3 and HTC’s One X smartphones.

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