The Cupertino, Calif., company had crossed the $700 billion mark in November and last week but had not closed at that level. Tuesday's close valued Apple at $710.7 billion.
Market value is a commonly used term among investors to measure how much a company is worth. It is determined by multiplying the company's shares outstanding by its stock price. Apple's market value--or market capitalization, as it is also known as--is based on the company's 5.82 billion shares outstanding.
Apple's market value is nearly double each of the next three largest companies on the S&P 500 index. Exxon Mobil Corp. is second to Apple with a market cap of about $385 billion; Berkshire Hathaway Inc., with its two classes of stock, is third at $370 billion; and Microsoft Corp. is fourth at $349 billion, according to FactSet.
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