Apple’s Market Cap Will Cross $1 Trillion As AAPL Set To Hit $1,111 Mark In 2013
Apple’s stock price (AAPL: $603.10) has been growing at a rapid pace for the past many months. In the light of this steady growth as well as Apple’s blowout Q2 2012 earnings, analysts are predicting that the share price will hit $1,111 by April 2013, according to AllThingsD. Furthermore, Apple will become the world’s first trillion-dollar company when its share price hits about $1,072. So, by setting his target at $1,111 per share, analyst Brian White of Topeka Capital is predicting that Apple’s market cap will hit a trillion dollars sometime in 2013.
Detailing from the source:
“Apple’s performance once again demonstrated how quickly Apple fever is spreading around the world, and this trend continues to drive meaningful upside in the company’s financial results,” White says. “We believe the negative vibes that have held back the stock over the past couple of weeks will now be replaced with the fear of missing the next leg up in the stock price that we are forecasting will reach $1,111 over the next year.”
That’s an awfully big valuation. But is it reasonable?
White contends that it is. And Apple certainly appears to be firing on all cylinders.
Apple has sold more than 365 million iOS devices to date, with over 50 million in its most recent quarter.