Apple’s sought-after iPhone X “likely sets the stage for Apple to become the world’s first company with a $1 trillion market capitalization, which would require a rally to only around $195 per share from near $175 now,” Anthony Mirhaydari reports for CBS News. “Just an 11 percent gain. For context, the shares are up nearly 17 percent from their September low.”
“Apple is holding $262 billion in cash and cash-like investments, much of it offshore,” Mirhaydari reports. “With Republicans in Congress looking to lower the corporate tax rate and establish a reduced short-term repatriation rate, a sizable portion of that hoard could be domesticated — and then returned to shareholders as dividends or share buybacks. Possibly as a special one-time dividend.”
“Last quarter, Greater China sales increased 12 percent. Even before the iPhone X launched,” Mirhaydari reports. “Upside kickers include reports Apple is looking to bring Face ID and full-body screens to the iPad, efforts in augmented reality and virtual reality, and the coming launch of the Homepod smart speaker. $1 trillion cometh. ”
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MacDailyNews Take: Would that Steve were here to see it when it happens.