“Is Wall Street finally get on board with the world’s most valuable company again?” Mark Rogowsky asks for Forbes.
“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.”
Read more in the full article here.