All-time high: Apple becomes the first US $700 Billion company

By Gadjo Cardenas Sevilla

Apple Inc., the world’s most valuable company, now has a market value of US $710.72 billion, which makes it the very first American company to surpass the $700 billion mark in market value. This is the first time the stock has closed above $700 billion in market value even if Apple first traded above $700 billion on November 25, 2014.

This comes weeks after Apple shattered earnings expectations behind its most profitable quarter yet where it gained US $18 billion in profits. Apple is now twice as valuable as onetime rival Microsoft, it also leads Exxon Mobil, the next most valuable company at $385.4 billion, by a very significant margin. (developing)

Apple's surge in earnings resulted from very strong sales of its new iPhone 6 and iPhone 6 Plus devices as well as the best ever quarter of Mac sales as well. Apple's continued success under CEO Tim Cook can also be credited to its incursion to overseas markets, most notably China. Apple is expected to roll out a whole new product category in April with the Apple Watch, a sophisticated smart watch wearable and health tracker.