Apple’s Stock, Market Cap Reach New Record on Monday

On Friday, shares of Apple closed at a new all-time high just short of $650.

By Monday, that weekend-long record was shattered. As of this writing, AAPL is trading just north of $661 and is poised to close at record all-time high levels today.

Fueling the buying trend are hot rumors of a new iPhone and iPad Mini arriving before year’s end.

A number of analysts, including Jefferies & Co.’s Peter Misek, claim that the new iDevices have already “gone into production.” As a result, Misek elevated his price target on Apple from $800 to $900.

This afternoon, however, Misek’s projection came a little closer to reality as shares of Apple climbed once again.

With a freshly established new market cap of $621 billion, Apple is now the most valuable company in the history of business.

Until today, Microsoft held the old record for a public company’s highest valuation, which was $618.9 billion – a level reached way back in December of 1999.