Apple just became the world's first $700 billion company

Apple just became the world's first $700 billion company.

On Tuesday, shares of Apple closed at $122.02, a new split-adjusted all-time high for the iPhone maker.

At this price, the company's market capitalization is around $705 billion, making it the first company to close a trading session with a market cap above $700 billion.

At this level, Apple is more than twice the size of Microsoft.

This new record high in Apple comes two weeks after the company reported a monster fourth quarter in which it sold more than 74 million iPhones and a record $18 billion in profit.

Apple's latest milestone comes as its CEO Tim Cook speaks at the Goldman Sachs Technology Conference, and you can follow Business Insider's complete coverage here.

With Apple's latest gains, the stock is now up more than 60% in the last year.

And over the last decade, Apple is up a staggering 2,000%!