Apple has become the first company to reach a market value of $700bn as shares vaulted
amid upbeat news on the US technology company’s gains in the smartphone market and
soon-to-arrive smartwatch.

Shares rose 1.9 percent to close at $122.02 on Tuesday, lifting Apple’s market value to
$710bn, and making it the first company to hit the milestone.

Apple chief executive Tim Cook, speaking at a conference in San Francisco, said Apple
was hitting its stride.

“We’ve taken [the mobile operating system] iOS and extended it into your car, into your
home, into your health. All of these are really critical parts of your life,” Cook said.

“We want one seamless kind of life. And so, I think that is huge for our future…We also
did a lot of things to further our global footprint. And so, if you look at what we’ve done
in China, we’ve opened more stores there. We’ve opened a lot more distribution there,” he

“Through the world, we’ve opened almost 20,000 new points of sale. We’ve opened 27
new Apple Stores, lot of flagship stores.” [BY ALJAZEERA.COM]

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