The enormous valuation is certainly not without reason: Apple's high-margin flagship product, the iPhone, has been seeing unprecedented demand, allowing for solid sales and earnings growth. Apple's track record of execution and beating expectations has been so good that few analysts and commentators want to bet against the company. For instance, when Apple became the world's most valuable company back in 2011, with a market cap of about $340 billion, overtaking Exxon Mobil, there was a lot of skepticism whether the winning streak would continue. However, it went on to more than double its market cap to current levels of about $750 billion.
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