Apple CEO Tim Cook. Marcio Jose Sanchez/AP Apple just became the world's first $700 billion company.

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

At this price, the company's market capitalization is about $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 comes two weeks after Apple reported a monster fourth quarter in which it sold more than 74 million iPhones and brought in 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 gains, the stock is up more than 60% in the past year.

And over the past decade, Apple is up a staggering 2,000%.