Old news (yesterday) as reported on Bloomberg:
Apple Inc. set a U.S. record for market value, surpassing the high mark reached by Microsoft Corp. (MSFT) during the Internet heyday, on optimism the next version of the iPhone will meet high demand.
The shares of Cupertino, California-based Apple rose 2.6 percent to $665.15 at the close in New York, for a market value of $623.5 billion. That overtook Microsoft’s $616.3 billion closing market capitalization on Dec. 27, 1999, according to data compiled by S&P Dow Jones Indices.Let's remember that these are not including the massive inflation which occurred between 1999 and 2006, and that dollar as of 1999 was much more valuable than today.
For example, Gold was probably trading around $300 back then and about $1600 today. So priced in gold, MSFT was worth 2,000,000,000 oz (or 2 billion ounces), while AAPL today is worth about 375,000,000 oz (or 375 million ounces) "only" or 5 times less.