NEW YORK (
surpassed another milestone today, and it had nothing to do with iPads, iPhones, or iPods.
Apple's market cap surpassed $500 billion in after-hours trading, just 40 days after it
in market cap.
Shares were recently up 0.17% in extended-hours trading to $536.26 according to
. Shares closed the regular session, up 1.8% to $535.41.
The technology giant has surpassed each increment of $100 billion in market cap in exceedingly faster time-frames, as growth continues to surge at the Cupertino, Calif.-based company.
When former CEO Steve Jobs returned to Apple in 1997, it took almost a decade for Apple to close a quarter at more than $100 billion in market cap, doing so in the June 2007, according to
. It subsequently took Apple until the second quarter of 2010 to surpass $200 billion, a span of 11 quarters.
Apple reached the $300 billion mark four quarters after that, doing so in the January 2011 quarter. It took Apple just three quarters to surpass $400 billion. It has now taken just 40 days to surpass $500 billion.
Apple shares are up 32.2% year-to-date, and 51.6% in the past year.
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Written by Chris Ciaccia in New York
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