“Apple, the maker of the iPhone, has reached heights never seen before, with its market valuation eclipsing $770bn,” Eric Platt and Mamta Badkar report for The Financial Times.
“Now worth more than the entire S&P 600 small-cap index, or two Berkshire Hathaways, the question for investors is whether the Cupertino-based technology behemoth can surpass the $1tn mark, a level never previously reached,” Platt and Badkar report. “Investors have thus far wagered it can, sending shares to a new all-time high this week. Analysts on Wall Street, too, have taken the view that Apple will if anything go higher, lifting price targets at a heady clip. Goldman Sachs increased its view to $145 a share last week — worth $845bn based on current share counts. The highest target, at $165 from First Shanghai Securities, would see Apple’s market valuation rise to $960bn.”
“Apple’s valuation has remained compelling because of its growth, investors add,” Platt and Badkar report. “The California company trades at 15.4 times 2015 earnings, below the 17.7 multiple ascribed to the broader S&P 500.”
Read more in the full article here.
MacDailyNews Take: We highly doubt that Apple gives even one shit about a trillion dollar market cap. Not Apple’s goal.