Apple's Market Value Hits The Historical High Level

- Technology giant Apple’s closing price pushed its market value to 711 billion dollars on Tuesday, making it first-ever a company to close at over 700 billion dollars.

The company's market level passed the 700 billion dollars level before in intraday trading, but hasn’t closed above that point until Tuesday. Apple shares ended the day trading at 122 dollars.

The demand at Apple's shares soared after the company's first quarter earnings report came out, which revealed the company made 18 billion dollars on 74.6 billion dollar in revenue.

According to the analyists, the results were representing the most profitable three months ever recorded by any company.

Market value, or market capitalization, is determined by multiplying a company’s share price against the number of shares it has outstanding.