Apple’s share price has been steadily rising for weeks in anticipation of the iPhone 5, and some analysts were confident it would hit $700 per share before October. It did that in after-hours trading on Monday, breaking yet another record for the Cupertino company, and sending its market cap above $650 billion.
Apple became the world’s most valuable public company back in August, taking the top-spot from long-time rival Microsoft, and its share price has continued to rise ever since. In fact, it’s been increasing steadily since Apple announced its earnings for the first fiscal quarter of 2012, rising more than $270 per share, or over 65%, in nine months.
Apple’s latest market cap means its worth $250 billion — or approximately one Google, according to MacRumors — more than second-place ExxonMobil. That’s pretty incredible when you think about it. Analysts recently said Apple could become the first trillion-dollar company in history, and with the way things are going, that’s looking increasingly possible.