Move over Gates: Apple now most valuable company ever

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Apple has overtaken Microsoft as the most valuable company of all time after its share price surged this week, 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...

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