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Apple's market capitalization have reached a record high

    As the stock's most valuable company in the world,Apple's market capitalization  broke through $700 billion today,have reached a new record high.
    Apple`s valuation up to $119.59 after the opening bell on Tuesday.Market value of $701 billion,established a market capitalisation milestone that other US companies have never reached.As of tuesday's close,Apple shares reported $117.75, down 0.74 %,Market capitalization of $ 705,071,000,000.
    Although Apple has long been the world's largest company by market value,it's market value continues to rise,Apple`s market value has doubled of Steve Jobs periods under the leadership of Cook.
    700 billion this figure reached 1.7 times the world's second highest market capitalization of the market value of Exxon Mobil Corporation.The past five months,continued low oil prices led Exxon Mobil lost about $43billion,and now the total market capitalization about $405 bilion.Confidence in apple's growth comes from its September's latest iPhone,and the October release of faster and thinner iPad.Apple CEO COOK in updating the apple`s core products at the same time,but also attracting fans by launching new products,Including a new mobile payment system Apple Pay and the upcoming release of the smart watch next year .
    Cantor Fitzgerald analyst Brian White says,due to a major update of Apple`s main product over the past three months and the lack of competitiors with innovative force,in the background of consumption`s growth in the US market,we believe that Apple has the opportunity to usher in a bright holiday shopping season.Although Apple is the only S & P 500 market capitalization of $ 700 billion company,it is from the title that most valuable company in the history still have some distance.Microsoft's market capitalization reached its peak in 1999 , more than 613 billion US dollars ,Converted to the equivalent of $ 874 billion this year .At that time, Microsoft accounted for 5% of the total market capitalization of the S & P 500 company , IBM even once reached over 6 percent ,but now, because the market generally rose to record highs , Apple accounted for the proportion of the S & P 500 has not yet reached 4%.
    The market value of this technology giant from Clifornia exceeded the world`s most popular search engine company Google in January 2010,and exceeded the Seattle Microsoft in four months after.Microsoft`s market value is $3940 billion.On the other hand , from a historical perspective , Apple is still relatively cheap.When Microsoft reached its peak ,  its price-earnings ratio of 72 times according to Nasdaq and Factset data .Apple's price earnings ratio is only 18,same as the verall level of s&p 500 level.But Apple's sales and profit growth is much higher than all the other blue chips ,Apple's revenue growth of 15%, while earnings growth of over 20 %.
    The Apple Watch which will be launched next year is the first new product since Cook took office.In this potential popularity on wearable devices , analysts appear big differences, but they all expect that Apple's stock price will be higher.
    Apple Investor Carl Icahn believe that the company has a lot of cash ,its true market value has already far more than 10 digits.If Apple wants to reach that milestone , then Apple 's stock need to rise by 43% to $ 171 .If apple want to achieve a new milestone, then apple's price need to rise by 43%,up to $171.

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