Shares of Apple (Nasdaq: AAPL), the world's most valuable technology company, set their first record highs since April, briefly hitting $648.19 in Friday trading. That beat the previous record of $644 set on April 10. They closed at a record $648.11, up $11.77, or about 2 percent.

Meanwhile, arch-rival Google (Nasdaq: GOOG) also set a new record, as its shares hit $677.26, its first record high in five months. Shares of the Mountain View, Calif. search engine, tablet and smartphone company eased slightly to $677.14, up, up $4.27 or less than 1 percent.

Apple, of Cupertino, Calif., has been coy about new products, but analysts and industry publications have speculated on upgrades to the iPhone 4S, iPad and other lines scheduled for sale during the fourth quarter.

On Friday, Jefferies analyst Peter Misek told clients the so-called iPad Mini "is in production," based on checks with supply chain manufacturing sources in Taiwan. He also said an iPhone 5 or other product to succeed the iPhone 4S will be introduced next month for fourth-quarter sales.

The record-high closes means Apple's market capitalization is now $607.54 billion, compared with only $408.05 for oil giant Exxon Mobil Corp. (NYSE: XOM), of Irving, Tex.

Google's record-high market value Friday was $221.45 billion.

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