Revolutionizing the technology, smartphone, and tablet industry, Apple saw its stocks rise to a record price of $665.15 on Aug. 20, which gave the firm a market capitalization of $625.5 billion that is the highest ever for a US-based company.

Apple Inc., is all set to grow its stocks further as the firm plans to launch the third generation upgrade of its smartphone, iPhone 5.

Apple stocks jumped 16 percent in anticipation of a new iPhone and iPad Mini since July 26.

Considered the most valuable U.S. firm in history, Apple is believed to have room for further growth as the company’s stock trades at a discount to the Nasdaq Composite Index.

Investors value Apple at 15.4 times trailing 12-month earnings, while the average company in the 2,495-member Nasdaq trades at 16.5 times.

This growth in profit by Apple has left behind its share increase, contributing to the lower price-to-earnings ratio.

Apple stocks saw a rise of more than 80-fold in the past decade; while earnings per share increased more than 300-fold to $28.05 a share last fiscal year from 9 cents in 2002.

Many analysts believe that Tim Cooks, Chief Executive Officer, Apple will use $117.2 billion in cash to grow the company and invest in mobile devices, and the latest televisions.

Shares of Cupertino, California-based Apple are expected to rise to $721.39 over the next year, while many analysts believe that the firm’s stocks will rise above $1000.

Investors of Apple are counting on the success of the next iPhone that the company is rumored to release Sep. 21. Apple plans to unveil the latest version of the handset on Sept. 12. The company hopes to sell around 250 million units of the device over its life until the next innovation.

Besides the iPhone 5, Apple also plans to unveil a smaller, cheaper iPad this year, iPad Mini. The company is also in talks with U.S. cable companies about teaming up to carry live television and other content through an Apple-designed device.

As the Cupertino, Calif.-based company keeps on launching best-selling devices, the value of its shares and profit also increases.

The newer products by Apple such as the iPhone and the iPad, accounted for more than 60 percent of revenue in the last fiscal year, while the iPod’s share reduced to 6.9 percent.

Maintaining the same profit margins could be a challenge for Apple as the firm plans to enter television business, which has thinner margins as compared to other electronic devices.

Currently, Apple is dependent on more than just new products; the firm has made fortune through the sale of iPhones, which has doubled, and the sale of iPads, which has more than tripled in the past year, said Apple executives.

Apple is all set to expand its sales force and is ready to take better advantage of this opportunity, as the firm works on the development of its next iPhone 5.

The firm reaches out to a wide market by lowering down the prices of its old models of iPhones and iPads and continues to sell new versions at high price, which does bring profit.

In terms of market value, Apple stays ahead of next-largest Exxon Mobil Corp. by more than $200 billion. Microsoft held the No. 3 spot yesterday with $258.2 billion, even after trading as high as $616.3 billion on Dec. 27, 1999.