Apple has broken through the $600 billion market valuation level on the anticipation of the iPhone 5 and mini-iPad tablet.
If Apple shares reach $663.68, Apple will become the most valuable company of all time, eclipsing the record Microsoft set in late 1999. Microsoft's record $618.9 billion. Microsoft set that benchmark on Dec. 30, 1999, at the height of the dot-com bubble. Microsoft now trades at a valuation of around $260 billion.
Apple's shares are still relatively cheap. Trading at 14 times this year's earnings forecast, it has a price-to-earnings ratio far below that of some tech stocks.
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