“For investors seeking a piece of Apple, there’s still significant upside to be had, suggests a new report from RBC Capital Markets out on Monday,” JP Mangalindan writes for Yahoo Finance. “RBC Capital Markets analyst Amit Daryanani writes that the Cupertino, Calif.-based tech giant could see its market cap hit — or even surpass — $1 trillion within the next 12-18 months. Apple currently has a market cap of $802.9 billion.”

“The RBC Capital Markets analyst’s decidedly bullish scenario assumes mid-single-digit revenues growth for Apple, driven largely by the launch of the highly anticipated iPhone 8 this fall,” Mangalindan writes. “Apple’s flagship device, rumored to sport an all-new design and features like a larger screen and wireless charging, is expected to sell at a higher ‘premium’ retail price. He also expects the iPhone 8 to see sales comparable to previous iPhones or modestly higher sales.”

“However, Apple needs to reach several milestones before it can achieve a $1 trillion market cap, Daryanani explains. Those milestones include Apple expanding its gross margins and operating margins by 20-30 basis points and nearly 100 basis points, respectively. That could be achieved, in part, through further growing its share in the smartphone and tablet markets,” Mangalindan writes. “‘In our view, the smartphone space is currently a two-horse race where Apple will be one of the winners in continuing to gain market share,’ he adds.”

Read more in the full article here.

MacDailyNews Take: We’ve been hearing about Apple hitting a $1 trillion market cap for many years now. Maybe this time’s the charm?

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