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    Most valuable companies in history, adjusted for inflation

    When Apple surpassed Exxon-Mobil as the world’s most valuable company in August 2012, it ignited a debate over what, precisely, “most valuable” means--and how inflation influences the calculation. Apple’s 2012 market valuation topped out at $661 billion U.S., the highest absolute-value figure in history, but a longer-term view of other corporate giants shows it has a ways to go before it can claim the all-time, inflation-adjusted top prize. Here are history's 9 most valuable companies, adjusted for inflation.

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    1. 7. Microsoft in 1999
      Value then: $620.6 billion // Adjusted to 2012 dollars: U.S. $851 billion

      HOW IT GOT SO BIG: Instead of selling its DOS operating system outright to IBM when it released its original Personal Computer in 1981, Microsoft struck a licensing deal with the computing giant. As PC and clone sales took off, Microsoft earned revenue for every machine sold, and its growth exploded atop the ensuing revenue stream. The process continued ... more 
      7. Microsoft in 1999
      Value then: $620.6 billion // Adjusted to 2012 dollars: U.S. $851 billion

      HOW IT GOT SO BIG: Instead of selling its DOS operating system outright to IBM when it released its original Personal Computer in 1981, Microsoft struck a licensing deal with the computing giant. As PC and clone sales took off, Microsoft earned revenue for every machine sold, and its growth exploded atop the ensuing revenue stream. The process continued as the market transitioned to Windows a decade later.

      WHAT HAPPENED: The world changed – mobile devices slowly took over from PCs as industry growth drivers – and Microsoft didn’t adapt as quickly as it could have. As a result, the company’s value has languished for much of the last decade as PC growth flattened out. The company has struggled to carve out a presence in smartphones and tablets, and now looks to Windows 8 and Windows Phone 8 to plot a path toward a post-PC future.

      VALUE TODAY: $273.5 billion ( #42 on the Forbes Global 2000 list)

      Image: Wikimedia Commons less 

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