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Kif Leswing Getty Images/Stephen Lam AAPL Apple Rg  133.25 1.16 (+0.90 %) Disclaimer Get real-time AAPL charts here » The world's most valuable company is breaking new records. Apple's shares closed on Monday at $133.29, up $1.17 for the day, and above its record close of $133, set in February 2015.   However, Apple hasn't yet broken its intraday high, $134.54, set in April 2015. Still, investors are clearly finding their appetite for the company's stock. Apple is valued at about $699 billion, the largest market cap for a publicly traded American company.  The stock has risen more than 9% since Apple reported  a solid beat on quarterly earnings , breaking three straight quarters in which the company reported an annual decline in sales.  During much of 2016, there were serious concerns about whether Apple's iPhone, which contributes about two thirds of Apple's revenue, had saturated its market. And Apple's sales in China are still falling. But in

Snap Inc’s initial public offering filing seemed to show a company with a basic math problem: the company's cost of revenue for 2016 - the amount it had to spend just to keep the messaging service running - was $47 million higher than its $405 million in sales. The high cost of revenue, which in Snap's case consists mainly of payments to Alphabet Inc's Google for hosting the service, means that, on an annual basis, Snap lost money on every one of its 158 million users in 2016, even before accounting for salaries, office rents or anything else. Snap revealed in its IPO prospectus, filed with securities regulators on Thursday, that it will pay Google at least $2 billion over the next five years. But the cost side of the problem may not be as serious as it seems. The company's hosting costs are broadly in line with other social media companies. Its cost of revenue per active daily user was 97 cents in the last quarter of 2016, not much higher than the 85 cents that Face