Apple Surpasses Microsoft as Most Valuable Firm

Cupertino, California-based Apple has become the most valuable firm of all time, as measured by stock market valuation. With each of its shares hitting a price of $664.75, Apple's total market value surpassed the $619 billion record held by Microsoft since 1999.

Apple's market value has been surging in the past year. When Steve Jobs, its popular and visionary co-founder died in October, 2011, the firm's market value was approximately $378.55.

Even without Jobs at the helm, Apple's market value has increased 43 per cent since then, a period of just ten months.

New iPad, iPhone Rumors Cause Share Valuation Surge

After a brief dip in its stock price last month, following the announcement of somewhat disappointing sales figures, Apple shares have skyrocketed. Many observers credit the rumors that emerged suggesting the company is preparing to release a new version of the iPad tablet computer. (Source: guardian.co.uk)

Many believe Apple's new tablet would be known as the "iPad Mini" and would be priced lower than the existing iPad. This would position Apple to compete with the Amazon Kindle Fire and the Google Nexus 7, both of which are priced at $199.

Currently, a 16GB iPad 3 retails for $499.99. With storage capacity increased to 64GB, the Apple device sells for $699.

Pushing Apple's market value even higher are whispers that the firm will soon announce a new smartphone (the iPhone 5) and a device capable of extending the company's role in the television market. This has been a goal of chief executive officer Tim Cook for some time.

Facebook Shares Move in Opposite Direction

While Apple share prices have been soaring, Facebook shares reached a new low this week, trading at a value of just $18.75 per share. The stock did rebound to around $20, but it's clear the social networking giant continues to struggle in its quest to attract investors.

The $18.75 low is less than half the value Facebook shares first sold for back in May, 2012, when the company first went public.

Currently, Facebook's market valuation is just $9.5 billion. (Source: reuters.com)