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Apple Breaks Another Record


Yet another feather in the cap for Cupertino.

MINYANVILLE ORIGINAL Today, Apple's (AAPL) stock price peaked at $664.75, giving the company a market capitalization of $623.1 billion, the highest intraday market capitalization of any company in history.

On Friday, Apple's valuation was $607.5 billion. The 2.6% share price swing is equal to the total value of some major companies, as Zero Hedge observed earlier today.

The previous record-holder was Microsoft, which was valued at $620.6 billion at the its height in 1999. Microsoft's record, adjusted for inflation, would be over $850 billion today.

Investors are anticipating that Apple will soon release a new iteration of its best-selling product, the iPhone, which hasn't had a major form-factor upgrade since the June 2010 release of the iPhone 4. Rumors that a smaller version of the iPad, which could compete with tablets such as the Amazon (AMZN) Kindle and Google (GOOG) Nexus 7, are also in the works.

Meanwhile, CEO Tim Cook is meeting today with his counterpart at Samsung (SSNLF) to see if the two companies can't come to a settlement in their patent lawsuit before the jury begins deliberations.

Twitter: @vincent_trivett
No positions in stocks mentioned.
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