Apple has surpassed $300 billion in market capitalization, achieving a distinction shared currently by only one other company in the world.

By Monday at 12:10 p.m. ET, the price of Apple Inc. shares has risen by more than seven points to 329.75, giving the company an approximate market capitalization of $302.47 billion.

Apple has reported record earnings this year, thanks to the success of the iPhone 4 and the iPad. Apple sold 3.89 million Macs, 14.1 million iPhones, 9.05 million iPods and 4.19 million iPads in the fourth quarter alone.







Just eight months ago, Apple was worth $223 billion, making it the world's most valuable technology company ahead of arch rival Microsoft. In October, shares of the computer and mobile device maker eclipsed $300, valuing the company at $274 billion.

Put another way, Apple is now worth six times the value of Facebook, and the company has increased its value by $50 billion in just six months.

Apple is now the world's second most valuable company, bested only by Exxon Mobil Corporation's $376 billion market capitalization. How long will it be until Apple challenges Exxon for the title of world's most valuable company, though?