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Apple becomes most valuable company in history

Apple, the maker of iPhones and iPads, has become the world’s most valuable company -- ever.

A rise in the company’s stock price Monday drove its valuation to $619 billion -- that’s higher than the market capitalization of $616.3 billion set by software giant Microsoft in December 1999 at the height of the Internet boom, according to The Wall Street Journal.

Apple’s share price has moved higher recently amid expectations that the company will release a new version of its iPhone this fall, and possibly a smaller version of its popular iPad tablet device.

Below, Toni Sacconaghi, senior analyst at Bernstein, offers advice on riding the Apple rally on CNBC. He thinks the stock is still "considerably undervalued," and his price target is $750.

Click here to check Apple’s stock price.

For a complete list of the latest market movers click here.