Apple bursts through $600 billion barrier

The world’s most valuable company, Apple, has hit the $US600 billion ($A584 billion) value level for the first time.

Only one other company that has been worth $US600 billion – Apple’s old nemesis, Microsoft – is now valued by the market at about $US260 billion.

Apple (APPL: US) shares hit $US644 overnight in New York, before closing at $US628.35.

Apple’s stock is up 59% since the start of the year. The company has cash reserves of more than $AU95 billion.

The electronics company is tipped to launch the new iPhone 5 later this year.

Apple’s market value is still below Microsoft’s record value at the turn of the century if inflation is taken into account.