Apple becomes first US company to close over $700bn in value

Apple shares closed at an all-time high on Tuesday, as the tech giant became the first US company to close with a market capitalisation of over $700bn.

As of close on Tuesday, the Cupertino-based group, which had traded at over $700bn in intraday trade on 25 November, was valued at $710.8bn or $122.02 a share, after rising 1.92% on the day.

Since Apple's IPO in December 1980, the company's market value has risen more than 50,600%.