Apple becomes first company worth $700bn

Apple’s market value has reached a record-breaking $700 billion (£444 billion).

The recently-launched Apple Watch
The recently-launched Apple Watch

On Tuesday Apple had a peak share price of $119.75 (£76), which put it almost $300 billion (£190 billion) ahead of the world’s second most-valuable company Exxon.

Apple’s value is also higher than the GDP of all but 19 countries in the world.

The valuation comes in the wake of a host of new product launches from Apple, including the company’s first smartwatch and the new iPhone 6 and iPhone 6 Plus phones.

Apple shares had hit a record high in August, ahead of the product launches.

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