Apple hits a new high market value of 700 billion US dollars

Apple's share price hit another record high on Tuesday. As the company with the highest market value in the world, Apple's market value exceeded 700 billion US dollars. Apple's share price rose 0.8% to US$119.59 after the opening of US stocks on Tuesday, with a market value of US$701 billion, setting an unprecedented market capitalization milestone for other US companies.

Apple claims that the biggest contributor to the company’s market value of more than US$700 billion is the new generation iPhone released this year. Since Apple released a new generation of iPhone two months ago, the sales of these devices have been increasing rapidly. In the last quarter, Apple sold a total of 39.3 million iPhones. Apple also said that it expects all product sales revenue for the current quarter to be between $63.5 billion and $66.5 billion.

What is the concept of 70.1 billion? The figure of 70.1 billion reached 1.7 times the market value of ExxonMobil, the world's second highest market capitalization. You know, this market value is already twice that of Apple when Steve Jobs lived. In other words, under the leadership of Cook, Apple's market value has doubled on the basis of the Jobs period.

Apple stocks have risen by 48% in 2014. Apple also announced a stock spin-off plan, which was the first time in nine years that it had dismantled shares. As the most valuable company, Apple is the first company in the S&P 500 to reach US$ 700 billion. If Apple makes adjustments, it will get more income and the company's market value will be higher. The market value of Apple in 1999 was 613 billion U.S. dollars, and it will increase to 874 billion U.S. dollars by now.

Confidence in Apple’s growth comes from its latest large-screen iPhone released in September and the faster and thinner iPad released in October. While updating Apple’s core products, Cook also continued to attract fans through new products, including the new mobile payment system Apple Pay and smart watches that will be released next year.