Thanks to the explosive popularity of the iPhone and the iPad, Apple has become the second company in the world after Exxon Mobil with a market capitalization of more than $300 billion.

Apple shares jumped $7.01 or 2.17 percent on the Nasdaq to close at an all-time high of $329.57 on Monday (local time), the first trading day of the new year.

While the gap in market capitalization between Exxon Mobil and Apple has narrowed to $73 billion, experts doubt that Apple will overtake the oil company. In October last year when Apple's share price hit the $300 mark for the first time, the gap decreased to $50 billion. But a recent hike in oil prices has boosted Exxon Mobil's share price and its market value is expected to continue to rise.