Apple Tops $US700 Billion In Value Overnight

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As most Australians were sleeping Apple became the first Company in the world to top $US700 billion in value.

As the bell rang at the New York stock earlier this morning Apple shares hit the magic $US122.02, which taking int account the recent stck split and adjustments is an all-time high for Apple shares.

At this price, the company’s market capitalisation is around $US705 billion, making it the first company to close a trading session with a market cap above $US700 billion.

Apple is now more than twice the size of Microsoft. This new record high in Apple comes two weeks after the company reported a monster fourth quarter in which it sold more than 74 million iPhones and a record $US18 billion in profit.

Apple’s latest milestone comes as its CEO Tim Cook speaks at the Goldman Sachs Technology Conference, and you can follow Business Insider’s complete coverage here.

The stock is now up more than 60% in the last year.
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