Apple's record close brings market cap to $775bn

Steve Jobs From Apple Com

Apple's stock on Monday closed at a record, rising more than 2.7 percent to $133, and hitting a market cap of nearly $775 billion.

The tech giant's shares saw a morning tear after Barron's predicted over the weekend that the stock could return 25 percent in a year. Apple also said Monday it would spend 1.7 billion euros ($1.9 billion) on two European data centers running on renewable energy.

At $133 a share, the company's stock is sitting comfortably at a split-adjusted high-the stock had topped $705 in 2012 before the company's 7-for-1 split last year (meaning an adjusted high of about $100.72).

After Monday's gains, Apple is just below the average Wall Street analyst price target of $133.15, according to FactSet.

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Apple's market value stood at about $774.69 billion, according to FactSet and CNBC data. This means it is worth more than twice as much as any other U.S. publicly traded company. The second-largest public American company, Exxon Mobil , has a market cap of about $377 billion.

Monday was not overly positive for tech stocks, with the Nasdaq composite down throughout most of the day, but rallying to a slight gain before the close.

-CNBC's John Melloy contributed to this report.