Analysts have revealed that Apple could be on its way to become the world’s first trillion dollar company thanks to pipeline products such as the upcoming iPhone 8.
Investors, hold on to your wallets – following on from a recent report we issued in May this year, it appears that Apple could be well on its way to becoming the world’s first trillion dollar company before the close of the year.
Brian White, an analyst at Drexel Hamilton, has reported that – given the apparent introduction of a tenth anniversary iPhone later this year – Apple could become worth more than a trillion dollars; a goal that doesn’t seem overwhelmingly impossible given the company’s present value at some $752 billion dollars – down from a reported $800 billion dollars earlier this year.
White advises that Apple could soon rise above the $200/share threshold, bestowing the firm with a trillion-dollar market cap. At present, the company presently trades at $145/share, down from its all-time high of $156/share.
White believes that the advent of Apple surging past the $200/share threshold is imminent, offering that “Similar to the bottoming process in Apple during the summer of 2013 that drove a strong rally into the spring of 2015, we believe the bottom in the stock during May 2016 and the upcoming iPhone cycle is setting up Apple to reach our $202.00 price target over the next 12 months.”
Apple has been widely anticipated to offer three new iPhones this year – a revised iPhone 7s and 7s Plus pairing, and a new iPhone 8 / iPhone Edition model that could arrive slightly later in the year. That offering will be supplemented by the arrival of not only the company’s HomePod system in December, but any other product it chooses to release before the end of the year.
What are your thoughts? Do you feel Apple can indeed become a trillion dollar company before the end of the year? Be sure to let us know your opinion in the comments below!