How time flies when you're stupid rich.

It seems like just yesterday that we were talking about Apple (Nasdaq: AAPL) crossing the $400 billion market cap threshold for the first time ever, but that was actually four whole weeks ago. Before we knew it, Cupertino returned to its earnings estimate-pounding ways … with a vengeance.

The explosive quarter helped propel shares to new heights, and then proceeded to reclaim the market cap crown from oil giant ExxonMobil (NYSE: XOM). Shares have been on a run ever since, and are now even flirting with the magical $500 threshold for the first time ever. How have those gains translated in the market cap race?

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Source: YCharts.

Apple's market cap now stands over $50 billion higher than Exxon's thanks to the recent rally. In fact, if you compare Apple to archrivals Google (Nasdaq: GOOG) and Microsoft (Nasdaq: MSFT), it has their caps -- combined -- beat. Together, they come in at $455.6 billion,  just under Apple's $458.73 billion capitalization.

Looking at recent net incomes tells a similar story, with Apple now also taking a lead from the oil baron in quarterly profit.

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Source: YCharts.

The Mac maker's staggering $13.06 billion bottom line has squeezed out a lead over Exxon in this race too. Once again, Big G and Mr. Softy joining forces would result in just $9.33 billion in profit, coming up short compared to the Colossus from Cupertino.

While some Fools think Apple may be peaking, I think it's still a buy, thanks to growth markets like China and the enterprise, which are just now getting tapped.

There's been a lot of talk of Apple reaching the mythical realm of a trillion-dollar market cap, which would require the company to more than double from current prices. Remember that Wall Street analysts, who are notorious for underestimating Cupertino, have price targets as high as $700 for Apple shares. With 932 million shares outstanding, that would be a $652 billion capitalization.

All of a sudden, a trillion-dollar cap doesn't sound so mythical after all.

Speaking of 13-digit figures, the mobile revolution is set to become "The Next Trillion-Dollar Revolution," thanks in part to Apple. There are lots of companies that are set to cash in on it, but one in particular has excellent prospects. The company is one of few players that will help power the mobile devices of the future, and it also has exposure to the explosive growth in China. Click here for access to this 100% free report.