Apple market cap exceeds $US300 billion

Tech giant Apple’s market capitalisation has now exceeded $US300 billion, with the company’s shares gaining $US7.47 yesterday.

The development comes although Apple is facing more and more competition in the smartphone and tablet sectors, with rivals including Google and Samsung releasing their own products based on the Android platform.

The increase in the company’s market cap also comes as it prepares to launch the Mac App Store this week, although no other major hardware launches have been announced just yet.

Nevertheless, there are several rumours circling the industry that Apple is focusing on a few key upgrades for existing products. It is understood that a new iPad will be launched in the next few months, with a new iPhone to launch in June with NFC capability.

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