SAN FRANCISCO – Apple has set a record on Wall Street: It’s the first U.S. company to be worth more than $700 billion based on the value of its stock at the close of trading Tuesday.
That’s almost twice the value of the next biggest company, oil giant Exxon Mobil.
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Apple shares rose almost 2 per cent Tuesday, closing at $122.02, which gave the company a market value of more than $710 billion. Apple Inc., which has reported record sales and profit in recent quarters, has crossed the $700 billion line before in the course of daily trading. But Tuesday was the first time any U.S. company finished the day above that line.
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Exxon Mobil Corp. saw its shares fall by 0.6 per cent Tuesday and closed with a value of about $385 billion.
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