Apple becomes the most valuable company of all time,

The consumer gadget and computer maker has now surpassed Microsoft's record of $620.58bn set in 1999. However, that figure is not adjusted for inflation. The news comes ahead of the anticipated launch of the iPhone 5, and possibly a smaller and cheaper iPad. Apple shares hit $664.74 in New York midday trading, and closed at $665.15. That was $17, or 2.6%, higher than Friday's close.