According to Wall Street analyst Brian White’s research note obtained by MacRumors, Apple could become a trillion dollar company within the next 12 months.
Apple’s stock price has seen a down-size of nearly 9 percent after a record high value of $156.10 in May. White stated that Apple’s recent sell-off represents a buying opportunity for investors with the launch of iPhone 8 just a few months away.
“In our view, Apple’s quarterly results will be less important this summer as investors are focused on the iPhone 8 this fall, along with the company’s raised capital distribution initiative, depressed valuation and new innovations as showcased at WWDC. We still believe Apple remains among the most under appreciated stocks in the world.”
White also stated that the upcoming release of Apple’s upcoming smartphone along with the innovations showcased by the company at WWDC indicates towards an exponential increase in the stock values of Apple. White predicted that the stock price might jump to as high as $202 which will make Apple a trillion dollar company.
A similar prediction was made by RBC Capital Markets analyst Amit Daryanani in May who stated the stock price may reach to $195. Apple is currently a $727 billion company.