Apple's Market Cap Hits $700 Billion

Apple’s market cap passed $US700 billion shortly after trading opened Tuesday morning.

The stock was trading at about $US119 and climbing. The market cap was about $US701 billion.

Apple’s stock has been on a steady rise all year, and it’s only been fuelled by the wildly successful iPhone 6 and 6 Plus launch.

Apple posted record opening weekend sales for the new iPhones in September.

And this holiday quarter is expected to be massive, with one analyst, Ming-Chi Kuo, predicting the company will sell over 70 million units.

The stock has been hitting record highs off and on for the last few days.

Take a look at the rise over the last year:

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