The current stock of Apple is trading at $153 mark for the first time ever, after factoring in a 7-for-1 split in 2014. Apple is on the way to become world’s first trillion-dollar company very soon. In the race, we have Alphabet, Microsoft, Facebook and Tesla eyeing this historic feat. Recently the Cupertino-based company embarked to $800 million market cap in May.
The Google Finance tool had rated Apple at $810 billion mark in the month of May this year. The tool is said to have shared an extra count of the company’s shares that were outstanding, the total was stated to be 5,225,791,000. The statistics are as per the last quarter. The company has concentrated on buyback program as well.
Drexel Hamilton analyst Brian White has stated a 12-month price target to $202 a share on course to attain a $1 trillion valuation. The share prices raised to 2.9 percent after Apple hit the sales by nearly one percent. It is a known fact that Apple does not reveal any of its plans relating to the acquisitions or any new series, however, the leaks do pop out of its set up and CEO Tim Cook claimed that this was one of the reasons for a low sale factor in terms of the iPhone new series.
The overrated features by the leaks and the same not found in the newly released iPhone made the customers a little ‘salty’ against its products and hence the company had to face the ‘brunt’, which was nothing but a low score of sales. The iPhone 8 was scheduled to be launched in this fall, however, still updates are to be revealed.
White’s research note said “Apple’s valuation has been depressed for years as investors grew concerned that Apple would fall victim to the missteps of consumer electronic companies of the past. However, Apple has proven its resilience through its unique ability to develop hardware, software, and services that work seamlessly together. We believe this positions Apple very well to capitalize on the trend toward more “things” becoming a computer”.
Financial Times data according to their market cap reports Google’s parent company Alphabet at $573 billion, followed by Microsoft at $508 billion, Amazon at $423 billion, and Berkshire Hathaway at $441 billion.
White says Apple could become the world’s first trillion dollar company within the next year. As per the sources, Apple which is trading at $202 would, at present provide a market cap of around $1.05 trillion – as reported in the month of May.