“Apple is getting closer to the $1 trillion mark,” Evelyn Cheng reports for CNBC. “Shares of the iPhone maker hit another all-time high Wednesday. At $163.89, they are just $30 a share away from making Apple the first U.S. company to cross the $1 trillion threshold in terms of market capitalization.”
“That would put Apple’s size slightly less than the gross domestic product of Mexico but among the top 20 economies worldwide,” Cheng reports. “It is the second straight day the stock hit a record — and the 29th time this year — as anticipation builds for the iPhone 8, which is expected to be introduced this fall.”
“Apple shares would only need to rise another 18 percent from this level to achieve that milestone, based on calculations using FactSet data,” Cheng reports. “Apple has 5.17 billion shares outstanding and could reach the $1 trillion-dollar market cap level if its shares rose to $193.61.”
“In 11 previous iPhone announcements, Apple shares have climbed a median of nearly 27 percent in the time period between two weeks before each announcement to six months later, according to Kensho, a data analytics tool used by hedge funds,” Cheng reports. “‘It continues to be a bet on the iPhone, with a great deal riding on how well the iPhone 8 does,” Aswath Damodaran, a professor of corporate finance and valuation at New York University’s Stern School of Business, told CNBC in an email. ‘If it does well, I think [Apple] will make the trillion dollar market cap,’ he said. ‘If the iPhone 8 does badly, all bets are off.'”
Read more in the full article here.
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But but but…… according to one bozo with a keyboard, Amazon will get to a trillion way before Apple will🤣
You also forgot Alphabet beating Apple to the $1T mark. Global Android market share percentage must be around 98.9% by now. Every day I hear about Apple’s rapidly declining iPhone market share percentage. How does Apple manage to survive those constant losses?
Market share does not equal user base. Android’s market share is ginormous simply because it’s used on very cheap devices that are being replaced and purchased at a much higher rate than iOS devices.
I know a few people who have replaced their Android phones several times in the past couple of months because they were nothing but cheap pieces of crap.
According to Google’s own numbers, iOS user base is about half of Android’s; ~ 1 billion vs. 2 billion.
Thats an 18 percent increase over the current price.
Not impossible but that is a significant growth. May happen by the end of the year but that depends on whether the market has already priced in the new products coming in the fall.
Tax repatriation and estimated 160 billion in iPh 8 sales, along with “the rest,” very possible in ’18.
If the iPhone 8 does badly, all bets are off? That seems pretty vague. What will be considered good? 50 million, 60 million, 70 million iPhone units in the first weekend?
Those Wall Street jackasses set whatever ridiculous number they want and pass their almighty judgment. I honestly can’t imagine how big investors can be so stupid and greedy.
I bought my Apple shares in 1999. They’re doing okay.