Apple’s market value topped $700 billion Tuesday morning, the first time any company in the U.S. has hit that mark. More tantalizingly, it’s that much closer to becoming a $1 trillion company, though it’ll likely be a while if that ever happens. Shares in the Cupertino-based company rose to $119.59 in early morning trading — pushing its valuation to more than $701 billion. It now dwarfs the world’s second-largest company, Exxon Mobile Corp., which has a value of $409 billion. Apple’s stock has been gathering momentum since April, when the company announced an expanded stock buyback program.
This article originally appeared on Recode.net.