Apple's market capitalization surpassed US$700 billion at one point during trading on the Nasdaq on Tuesday.
Apple shares hit $119.75 at one stage, boosting the company's market capitalization to $702.4 billion. But the stock closed down 0.64 percent at $117.87 on profit-taking after a week of gains.
Apple's market capitalization has doubled since August 2011, when Tim Cook took over as CEO following the death of Steve Jobs.
Exxon Mobil is the second most valuable company.
