Even so, it is not the most expensive company. That is EMC, the storage company, if one goes by the price-to-earnings ratio.
Analysts say the event is a milestone in the way the development of the industry from hardware to enterprise services to consumer services.
It is also seen as a vindication of Steve Jobs, the man who founded Apple, was sacked, returned to rescue the company, faced death from pancreatic cancer, and has now triumphed.
He once said Apple's purpose was to produce products that were "insanely great". That would not be a bad description of his achievement to date.
This article was originally published by Computer Weekly