Apple (AAPL, Tech30) seems to have flying colors when it comes to the world's most valuable companies. Apple is the king among them. Now, it's worth is $700 billion after its stock hit a record high on November 25,2014. It is $300billion more than the second most valuable company, Exxon Mobile (XOM). Tim Cook seem to be a terrific CEO and strongly living the dream of Apple' founder, Steve Jobs.At present Apple is double of Google's (GOOG) worth. His leadership and ability which were doubted, now it seems the CEO's limits are far more than expected.Apple's shares are up by 50% to be around $150 per share, all time high. This was supported by the introduction of Apple's iPhone 6 and iWatch and mobile payments platform Apple Pay. Further more investors are easily accepting such high price for the company because of the buybacks and steady dividend payments. But as always, many believe the stock will continue it's historic run.According to FactSet, three quarters of analysts give Apple a "buy."Apple did a 7-for-1 stock split in June, so investors who recall when Apple hit $700 a share in September 2012 can think of the current price as $838.Within the S&P 500 index, Apple inc. (NASDAQ:AAPL) does not break records for market cap size in terms of valuation. Microsoft Corporation (NASDAQ:MSFT), at its peak, accounted for almost 5% of the total index value, while International Business Machines Corp. (NYSE:IBM) accounted for 6% in the 1980s. Currently, Apple has a weighting of less than 4% in the index because the S&P 500 has risen to record levels. In addition to that,Apple currently trades at a price-to-earnings ratio of 18, compared to 72 for Microsoft at its peak. It even underwent stock split. Apple did a 7-for-1 stock split in June, so investors who recall when Apple hit $700 a share in September 2012 can think of the current price as $838.According to legendary investor Carl Icahn, the stock could be worth $203 a share. That would value it at over $1 trillion. That means it should rise 70% more than from their current price.Apples's share must rise by 43% from current market price in order to reach that record-breaking milestone.