SAN FRANCISCO: Apple has broken another record and become the first US company to have value of more than $700 billion.
According to the value of the company stock at the close of trading on Tuesday, Apple has almost twice the value of the next biggest company, oil giant Exxon Mobil. Apple shares rose almost 2 per cent Tuesday, closing at $122.02, which gave it a market value of more than $710b.
Apple, which has reported record sales and profit in recent quarters, has crossed the $700b line before in the course of daily trading, but Tuesday was the first time any US firm finished the day above that line. Exxon Mobil Corp. saw its shares fall by 0.6pc Tuesday and closed with a value of about $385b.
