New iPhones push Apple's market cap past $700B

AP Photo/Mark Lennihan

Apple, already the world's most valuable company, surpassed $700 billion in market capitalization Tuesday as its stock hit another all-time high.

The company unveiled the latest version if the iPhone two months ago and sales have been surging. During its last quarter, Apple sold 39.3 million iPhones and said that it expected revenue from the sale of all of its products to come in between $63.5 billion and $66.5 billion in the current quarter.

Apple shares have risen 48 percent in 2014 and the company announced its first stock split in 9 years.

Apple's title as the world's most valuable company does come with an asterisk, however.

While Apple is the first S&P 500 company to exceed $700 billion in value, Microsoft Corp., if adjustments are made for inflation, had an even greater market cap about 15 years ago. Its $613 billion market cap in 1999 would be worth $874 billion today.

Microsoft's market cap is now about $394 billion.

Shares of the Apple Inc., based in Cupertino, California, rose $1.12 to hit $119.75 Thursday.$700 billionApple Inc.businessMarket capitalizationScience & Technology

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

San Francisco schools estimate $25m needed to close digital divide

Private donations being sought to fund internet access, technology

Retired officers seek end to decade-old age discrimination case

Retired officer Juanita Stockwell was 60 when she and her colleagues first… Continue reading

State officials sue Uber and Lyft for wage theft

California Labor Commissioner’s Office alleges ride-hail companies violating AB5

SFMTA Board passes ‘clean’ sales tax ballot measure to fund Caltrain

After a weeks-long impasse, tri-county leadership appears to have reached a compromise

Struggling Chinatown restaurants get help moving business outdoors

A total of $25,000 will be distributed to assist with costs of Shared Spaces program

Most Read