Apple: the first $700 billion company

The electronics giant’s market value crossed yet another important milestone Tuesday – one that no other U.S. company had ever achieved.

Apple has become the first U.S. company with a market value above $700 billion, adding to an already long list of achievements for the electronics titan.
The company’s shares rose nearly 2% to $122.02 Tuesday, nudging its market capitalization to just under $711 billion.
Market capitalization – or the value placed on the company by investors – is calculated by multiplying the share price by the number of shares outstanding. Apple’s dwarfs that of virtually all companies, including its closest rivals for the title of most valuable business.
Oil giant ExxonMobil XOM -0.60% has a market capitalization of $382 billion, for example. Meanwhile, Google GOOG 1.73% comes in at $365 billion while Microsoft MSFT 0.57% is valued at $349 billion.
Apple’s value has increased dramatically since it started to turn its business around more than a decade ago with the introduction of the iPod. It has since conquered mobile phones and tablets, and is plotting to take on the nascent smartwatch category.
Read more Click here / www.trade4x.net