File - Confidence in Apple has been growing since the company unveiled larger-screened iPhones and slimmer, faster iPads.
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SAN FRANCISCO: Apple Inc., already the world's largest company by market capitalization, hit a new record value: $700 billion.That puts Apple at 1.7 times the capitalization of the world's second-biggest company, Exxon Mobil Corp. Exxon, which has lost about $43 billion during the five-month oil rout, has a capitalization of $405 billion.Confidence in Apple has been growing since the company unveiled larger-screened iPhones in September, followed by slimmer and faster iPads in October. Apple is up 48 percent this year through Monday, heading for its sixth straight annual gain.Apple's value also moved above that of Google Inc. in January 2010 .As a result, Microsoft's market value moved above that of Exxon earlier this month, briefly making it the world's second-largest company before the two companies resumed their previous rankings.
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