24 Nov Apple Is On Track To Become A Trillion Dollar Company
Recently, Apple’s stock closed at $175.88, giving it a market valuation slightly above $900 billion. A Drexel Hamilton analyst named Brian White predicts that over the course of the next twelve months, the company’s stock could be trading as high as $235 per share, and at that price, Apple’s market valuation would be over one trillion dollars, making it the only trillion-dollar company on the planet.
“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 equates to approximately a $1.2 trillion market cap.”
Mr. White is not alone. Another analyst, Amit Daryanani, working for RBC Capital Markets, has made a similar prediction, stating:
“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.”
If you don’t yet own stock in the company, now would probably be a great time to buy. As Apple edges closer to the one trillion-dollar threshold, it’s sure to generate an increasing number of headlines, which will increase interest in the company and push the stock price higher still, hastening the day when it hits the mark.
If you already own a stake in the company, hold onto it, and if you concur with Daryanani’s assessment, add to it as you’re able. You could soon be the proud owner of a tiny slice of investment history.