Following a 25 percent surge since August, Apple's stock [NASDAQ: APPL] has hit a new high of $300, consolidating its position as the second largest company in the world based on market capitalisation.

The firm edged ahead of Chinese oil firm PetroChina back in September, with its continued rise this month placing it roughly $55 billion behind of the world's largest company, US oil conglomerate Exxon-Mobil on $329 billion.

On the up and up

Commentators expect Apple's share could rise still, in the coming months, despite the increasing impact of Android in the US market.

Apple will report results for Q4 2010 on October 18 – including the first full quarter of iPhone 4 sales – while it's also estimated iPad could be bringing in as much as $3 billion in revenue per quarter.

As a result of another record quarter, Apple Insider reports one firm is claiming Apple's price could yet hit $430.

Beating Microsoft

Back in May, Apple made headlines when, for the first time in its history, the company finally overtook Microsoft as the second most valuable company on the US stock exchange.

Apple's rival will be hoping encroaching on Apple's iOS business – both in terms of Windows Phone 7, and tablets from HP and other partners due to launch in the coming months – will redress the balance in 2011.