Apple, whose price hit $500 for the first time on Monday, could be the first company ever to reach a trillion dollar valuation.

The tech giant’s valuation is now nearly halfway to the 10-figure mark, with speculation Apple will launch iTV later this year driving shares to new record highs. Yet, Apple still has a way to go to become the most valuable company of all time.

Apple shares are up more than 20 percent year to date.

And with its price now around $500, the company’s valuation is about $460 billion—roughly $8 billion more than the market caps percent of Google ($198 billion) and Microsoft ($257 billion) combined.

If Apple shares continue to hit new record levels, its market cap will reach $500 billion when the price reaches $537. Still, shares will need to rise another $100 above that level to put Apple in contention for the most expensive company ever.

According to Standard and Poor’s, ExxonMobil was the most recent company to see a valuation north of $500 billion, back in 2007 when oil prices were at record highs. (Read More: Apple Briefly Passes Exxon as World's #1 Company )

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