Boom! That’s the sound of AAPL stock hitting yet another all-time high Tuesday, making Apple the first $700 billion company in history.
Microsoft made history in 2000 when it became the first company to close at $600 billion, so this feat must make Tim Cook and the entire Apple team incredibly proud.
Shares of Apple stock closed Tuesday up 1.9 percent at a record-setting $122.02, which pushes the company’s market cap past the historic mark to an estimated $710.8 billion. While the stock has traded above the historic $700 billion level before, this is the first time it stayed above the line at closing.
Apple is now twice the size of Microsoft, which is the second-largest U.S. company at $347.5 billion.
While some analysts predict doom coming to Cupertino in the wake of the Apple Watch reveal, the rest of us can obviously divine that Apple is doing just fine, thank you.
AAPL is on track to hit $130.70 a share in the next 18 months, which means you can still make money off the high-end stock, to the tune of about 7.7 percent. At that price point, Apple would be worth an amazing $761.3 billion.
While Cook may not believe in the Law of Large Numbers, you have to know he’s feeling pretty pleased with himself at this point.
