“Monday, Cantor Fitzgerald upped its 12-month price target for Apple to $180 per share, from $160, based on confidence in the company’s forthcoming Apple Watch, continued success of the iPhone in China, and other yet-to-be announced new businesses,” Van Grove reports. “The new target implies a market capitalization of $1.07 trillion based on Apple’s 5.8 billion outstanding shares.”
Van Grove reports, “‘Apple will enter its first new product category in five years,’ Cantor Fitzgerald analyst Brian White wrote in the research note. ‘Also, we believe Apple’s iPhone portfolio and position in China have never been stronger. Finally, Apple has shown its commitment to returning cash to shareholders, and we expect more in April. We believe the combination of these forces will drive the market to reward Apple’s stock.'”
Read more in the full article here.
MacDailyNews Take: $1 trillion is just a mile marker on the way to the next trillion and beyond.
[Thanks to MacDailyNews Reader “David E.” for the heads up.]