“Over the past several weeks, at least five analysts have upgraded price targets on Apple,” Rogowsky reports. “In the meantime, the company has seen its shares reach an all-time high of $117.57 before closing out [last] week at $116.31. That price gives Apple a market capitalization of $680 billion — more than Microsoft, Amazon, Netflix and Twitter combined… Can Apple be the first trillion-dollar company?”
“Consider that Apple has spent $70 billion buying back its own stock over the past couple of years and the market cap record it has attained is all the more impressive. The reason is simple math: It takes a higher stock price when multiplied by fewer shares to get the same total,” Rogowsky reports. “It’s important to realize that Apple bought a lot of its stock back at far lower prices than the company trades for today. That’s mostly good news for shareholders but also serves to depress the market cap.”
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