Quoting from a note to clients by RBC analyst Amit Daryanani, Philip Elmer-DeWitt reports for Apple 3.0:

AAPL has potential to achieve a $1.0 trillion dollar market cap and even surpass that over the next 12–18 months.

Assuming that the valuation framework remains stable, the ~$12+ EPS translates to a stock price of ~$192– 195 or a market cap exceeding $1 trillion.

Reiterate Outperform and raises price target to $168 from $157.

Read more fro Daryanani’s note in the full article here.

MacDailyNews Take: Just pass $890 billion, so we stop hearing from idiots about Microsoft’s inflation-adjusted market cap “record.” (Microsoft’s top market cap was $618.9 billion, set on December 30, 1999, right around the height of the dot-com bubble – in other words, it was irrational, not earned).

Apple current market cap record is $818.6 billion, set on May 8, 2017.

SEE ALSO:
Analyst sees Apple’s market value at $1 trillion in a year – May 8, 2017
Apple’s path to first-ever $1 trillion market cap – March 7, 2017
Apple on track to become first ever $1 trillion company – February 17, 2017
Bernstein: Apple could be first to $1 trillion market value, propelled by services revenue – Cramer agrees – May 18, 2016
Apple would be worth $1 trillion if market valued it like Steve Jobs-run company – January 4, 2016
Analyst: How Apple’s market value hits $1 trillion in 2016 – November 10, 2015
Annual iPhone Upgrade Program could power Apple to become world’s first $1 trillion company – September 16, 2015
Analyst: Apple at $1 trillion in a year – May 11, 2015
Dream of $1 trillion valuation for Apple slips away – April 17, 2015
Second analyst sees Apple worth $1 trillion – April 17, 2015
Here’s how Apple gets to $1 trillion valuation in just 12 months – March 23, 2015
Apple eyes trillion-dollar market cap – February 24, 2015
Apple’s stock swoon just a blip on its way to being worth $1 trillion – December 2, 2014
Trillion-dollar baby: Can Apple go where company has gone before? – November 24, 2014
Is Apple about to be the first $1 trillion company? Carl Icahn says yes – November 18, 2014
Omega’s Einhorn: Apple’s market value could hit $1 trillion – November 18, 2014
Apple’s market value primed to go to $1 trillion, creating largest company in history – July 3, 2012
Apple at $1,111 per share with a $1 trillion market cap in the next year – April 26, 2012
Piper Jaffray ups Apple price target to $910; sees world’s first trillion-dollar market cap – April 3, 2012
How Apple can reach $2 trillion market value in 2016 – March 16, 2012
Apple: $1 trillion market cap inevitable? – February 21, 2012
Could Apple become world’s first trillion-dollar company? – January 28, 2012
Altucher: Apple will become a trillion-dollar company; $1,000 a share – May 3, 2011
Apple could become first $1 trillion company in as little as 36 months – April 14, 2011

[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]