Apple Will Soon Become The First Trillion Dollar Company
CuriousBytes: With its current market capitalization of 900 Billion Dollars, Apple is one of the richest company on Earth. It only needs $100 Billion to become the only trillion dollar company. Check out more about Apple’s Wallet Capacity.
In spite of several issues like the ‘i’ problem, Freezing of iPhone X in cold and Screen Burn-in issues in the latest iPhone X, Apple managed to sell nearly 2-3 Million iPhone X devices on the launch day. The company is now enjoying the success of the $1000 smartphone and has also taken the responsibility of addressing the issues haunting the iPhone X.
The iPhone X sales might have boosted the Apple’s revenue to newer levels clearing the path to make the company reach its Trillion Dollar Company mark in terms of market capitalization.
At end of Friday Apple’s stock was closed at a price of $174.67 and making its current valuation reach up to $896.81 Billion. The company is short by just $104 Billion to reach the Trillion Dollar Mark.
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To reach the Trillion dollar valuation the company’s stock has to be traded around $195. The Wall Street analysts forecast that the company can easily reach the mark as the iPhone X demand is overtaking the supply.
Brian White, an analyst at Drexel Hamilton believes that the iPhone maker is able to reach his target of $235 for the company’s stock and forecast that it would become a $1.2 trillion company within a year.
With a market cap of over $900 billion, we believe Apple is on its way to becoming a “trillion dollar baby” as reflected in our price target. We were the first on Wall Street to project that Apple would reach a $1 trillion market cap as reflected by a price target; our current price target of $235.00 equates to approximately a $1.2 trillion market cap.
“In our view, Apple’s quarterly results will be less important this summer as investors are focused on the iPhone 8 this fall, along with the company’s raised capital distribution initiative, depressed valuation and potential new innovations. We believe Apple remains among the most underappreciated stocks in the world (11.3x our CY:18 EPS estimate, ex-cash),” White added.
Also, Amit Daryanani, an analyst at RBC Capital Markets says that the company will establish the Trillion Dollar Club by the end of 2018. His current price target for Apple shares is $190.
Currently, the iPhone X and iPhone 8 devices are doing good in terms of sales and a slight boost in sales can make the Cupertino tech Giant to be the First visitor of the Trillion Dollar Club sooner
Do you think Apple will reach the trillion dollar club by first Quarter of 2018? Tell us your opinion in the comments below.
Also Read: Apple Warns iPhone X Users About The Screen Burn-In Problem
Did You Know?
With Apple’s Current cash reserves it can buy many companies Like Uber, Twitter and Tesla together: