Apple Shares Hit Record High, Market Cap Nears Three-Quarters of a Trillion
Earlier today, Apple shares hit $141.34 USD per share, setting a new record-high for the company’s stock, sending its market cap to $742 billion temporarily, before coming down to $140.93 USD per share, as of writing.
Many analysts expect Apple’s market cap to hit three-quarters of a trillion dollars soon, as rumoured tenth anniversary iPhone 8 expectations have sent the stock climbing as of late. Piper Jaffray analyst Michael Olson said in a research note today, “We remain buyers of AAPL due to expectation for growing anticipation around iPhone X (aka iPhone 8) and a strong trajectory for services revenue,” noting AAPL has a current fair value of $163 USD per share.
While Apple’s ‘iPhone 8’ unveil is expected for the fall again, some believe tomorrow may see new products released (refreshed iPads?), as a scheduled maintenance to the company’s online store is planned.