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Apple, first firm with capitalisation of over $700 bn

Wed, Feb 11, 2015, 03:05 PM
San Francisco, Feb 11: Shares of tech giant Apple surpassed $122, making the firm the first company in world history to exceed $700 billion in capitalisation at the close of a trading day.

The Cupertino, California-based company had exceeded $700 billion in capitalisation on a previous occasion, but this is the first time that it remained above that level at the close of trading Tuesday.

Apple's value at the close on Wall Street stood at $710.7 billion.

Investors use stock market capitalisation, which is calculated by multiplying the price of one share at the day's market close by the total number of outstanding shares, to determine the value of a company.

The value of the firm is almost double that of the three next largest companies in the Standard & Poor's 500.
Agency: IANS

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