With AAPL shares reaching a high of $153.70, the Apple’s market cap has reached a massive $800 Billion. With this, analysts have raised their expectations as well and are now anticipating that the company will reach the $1 Trillion landmark soon. This will also mark the first company to reach the trillion dollar club ever.
The news comes a week after the company reported its Q2 earnings. While the earnings presented a mixed bag, analysts are expecting the company to report a highly enhanced market cap before soon. Meanwhile, analysts are now predicting a per share value of $202 for Apple stock which wold put the company’s market cap squarely above $1 Trillion.
Indeed, Drexel Hamilton analyst Brian White called the estimate conservative in face of Apple’s plans to introduce a slew of new devices in the fall — notably the hyped about iPhone 8, which could see record breaking sales if all that we have hearing about the device capabilities turn out to be true.
Meanwhile, Appeld oes not seem overly concerned with its stock prices. Last week, CEO Tim Cook at called any commentary on Apple stock absurd, stating that his company was focused on the long term. The company did miss some targets but it still recorded iPhone sales in excess of 50 million units.
Well, it might be just another landmark for the company however, a company achieving a market cap of $1 Trillion? Who would have thought it possible just a few years ago. If all goes well, we could see the Cupertino giant cross that milestone by the time it launches its next iPhone, which considering that its production is reported to have been on time, could be sometime in September.