Apple's market cap was $622.5 billion at the end of trading Monday. It had been even higher earlier in the day.

But when adjusted for inflation -- it requires -- Microsoft's $620.6 billion balloons to $853.4 billion, or over $200 billion more than Apple's current cap.

Apple has been on a roll lately: Last Friday its of $648 a share, which set Apple's value above $600 billion for the first time.

At Monday's market close, Apple's share was up $17 per share for the day, an increase of 2.6%, setting yet another record.

But that did not mean it was the world's most valuable firm ever, said the CJR.