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.

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

Big name officials crowd race for tiny Democratic Party board

The San Francisco Democratic Party campaign clown car is rollin’ once again.… Continue reading

Democrats unveil articles of impeachment against Trump for abuse of power, obstruction

WASHINGTON _ House Democrats will charge President Donald Trump with at least… Continue reading

Californians want to end PG&E’s operations as they exist now, new poll says

After years of deadly wildfires and a season of sweeping blackouts, a… Continue reading

Legal challenge halts SFPD jurisdiction over dog attacks on federal land

Dog owners beware — canine attacks are now consequence-free on federal land… Continue reading

49ers battle with the Saints lives up to its billing

Kittle’s 39-yard catch-and-run had placed San Francisco in prime position for a game-winning field goal as the 49ers trailed 46-45

Most Read