Apple Becomes First U.S. Company to Top $800 Billion Value
- Stock hits another record on optimism for next iPhone
- Shares have climbed 33 percent this year, helped by buybacks
Apple's Market Cap Tops $800 Billion
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Apple Inc. became the first U.S. company with a market value of more $800 billion as investors bet the next iPhone will spur a resurgence in sales.
The stock rose 1 percent Tuesday to close at $153.99 in New York, giving it a market capitalization of about $803 billion. The shares have gained 33 percent since the start of the year, helped by a buyback program that Chief Executive Officer Tim Cook extended to total $210 billion last week, from $175 billion last year.