Apple is the first company in U.S. history to close with a value of $700 billion financial records Tuesday. Shares of the gadget maker rose $2.29, or 1.9%, to $122.02 Tuesday — putting an exclamation point on a breathtaking 60% rise in the stock during the past year.
Apple is worth nearly twice as much as oil giant Exxon Mobil, the second most valuable company at $385.4 billion. Although Microsoft made its name when it became first to close above $600 billion in 2000 ( 14 years ago).
“It shouldn’t be surprising that record breaking market (valuations) follow record-breaking earnings,” says Walter Piecyk, analyst at BTIG. Apple earned profit of more than $18 billion in the fourth quarter – more than any other public company has earned in three months, says S&P Dow Jones Indices.
A look at APPLE’S Rise in 7 years is financial thrilling
| Market value | First close above |
| $700 billion | 2/10/2015 |
| $600 billion | 8/17/2012 |
| $500 billion | 2/29/2012 |
| $400 billion | 1/25/2012 |
| $300 billion | 1/3/2011 |
| $200 billion | 3/9/2010 |
| $100 billion | 5/30/2007 |
Sources: S&P Capital IQ, USA TODAY research Photo:theweek
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