Washington, Nov 26 : Apple is now worth a whopping 700 billion dollars after its stocks reached an all-time high on Tuesday.

According to CNN, the company is 300 billion dollars ahead of the market cap of Exxon Mobile (XOM), which is the second most valuable company in the world.

Apple's newly found status proves CEO Tim Cook's ability to help the company progress despite the absence of Steve Jobs, who died in 2011.

The report further said that the Wall Street also seemed to be pleased with the company's buybacks and steady dividend payments. (ANI)