Take that, Carl Icahn.
Two days after reporting strong fiscal 2014 fourth-quarter earnings, Apple's stock price hit a new all-time high of $103.99 on Wednesday, topping the previous high of $103.74 on Sept. 2. The movement came after a rare 7-to-1 stock split in June.
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Apple's market cap is now around $620 billion, making it by far the world's most valuable company.
Solid earnings likely contributed to the recent surge, though the stock market as a whole has recovered since last week's lows. Apple's new iPhone 6 and 6 Plus have also been well-received, along with its Apple Pay system. Overall, Apple is in a strong position for the calendar fourth quarter, when it typically posts its highest revenues. The slated launch of the Apple Watch in 2015 also bodes well for the stock.
Not everyone agrees that Apple is doing everything right. Activist investor Icahn has charged that Apple should use more of its $151 billion of cash to buy back shares of the company. In his view, Apple stock should be trading for more than $200.
This post has been updated to reflect the highest stock price.