Apple shares closed at an all-time high of $648.11 on Friday (August 17), a rise of 1.85% placing the company’s market capitalisation at $607.54 billion.
The new figure extends the tech firm’s lead as the world’s most valuable company with Exxon Mobil Corp in second place with a market capitalisation of just $408.1 billion.
The jump in Apple share prices is being attributed to anticipation over new hardware, including new iterations of the iPhone and iPad, as well as reports of serious talks between Apple and cable companies about Apple TV.
Billboard reports, however, that the stock of Apple’s competitors is also looking good, with Google reaching a 52-week high of $675 on Friday and Amazon falling just short of a 52-week high at $243.35.
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