Apple market value hits $600 billion for the first time

Cupertino based Apple has seen its share prices hit new heights following the new iPad release

Firmly cementing its place as the world's most valuable company, Apple has seen its market cap surpass the $600 billion mark for the first time

Apple’s share prices have continued to rise with the Cupertino based tech behemoth rising above a $600 billion (£377.7bn) market cap for the first time.

Closing in on the $619 billion market cap record set by fierce rival Microsoft back in 2000, a sum which equates to around $800 billion (£503.6bn) in modern money, Apple’s share prices have grown at a rapid pace following last month’s new iPad 3 release.

Hitting the latest milestone figure just months after crossing the $500 billion boundary, Apple’s overall value peaked at $600.16 billion yesterday shortly after trading markets opened in the US.

Firmly holding on to its billing as the most valuable company in the world, eclipsing Exxon in second place by around $200 billion, Apple share prices increased 7.46 per cent in opening trading hours yesterday topping out at $643.69 (£405.19) apiece.

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Via: 9to5Mac