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Apple is America’s first $700 billion company

Apple Market Cap $700 Billion

In case you haven’t noticed, Apple has been doing pretty well lately. The pride of Cupertino has seen its share prices soar ever since it posted record-crushing earnings last quarter and on Tuesday its total market cap closed trading at above $700 billion for the first time ever. Oh, and for the record, no U.S. company has ever hit such a high market cap, which means Apple is now the most valuable American company in history.

NOT EVERYONE IS IMPRESSED: Harvard Business Review says Apple is in trouble and it’s trying to hide it by reporting record profits

How astonishingly huge is a $705 billion market cap? So huge that if you combined Google and Microsoft together, their combined market cap would be only $7 billion bigger than Apple’s. That is absolutely amazing, especially considering that no other tech company even comes close to being worth $300 billion.

The question now is where Apple goes from here. Samsung’s recent troubles have left Apple in control of an insane 93% of all smartphone profits but we know that the iPhone gravy train will have to end at some point in the future, although we imagine the company will be able to milk its most popular device for many more years to come.

The Apple Watch will mark the first major new product release for the company since the launch of the iPad and we’ll be interested to see if it will be Apple’s next major cash cow.

Prior to joining BGR as News Editor, Brad Reed spent five years covering the wireless industry for Network World. His first smartphone was a BlackBerry but he has since become a loyal Android user.