With the Apple Watch just days from release, industry analysts have predicted that Apple will soon become the world’s first $1 trillion company.
With a current valuation of $744 billion, more than twice the size of the world’s second largest company, Exxon Mobil, Apple has been tipped to push into the unparalleled realms of a trillion dollar valuation in the near future.
The analyst looking into his business-based crystal ball and seeing big things is Brian White of Wall Street investment firm Cantor Fitzgerald. Speaking in a note to investors he predicted Apple’s share price could soon jump to a massive $180. It’s currently at $127.
It’s not just the impending Apple Watch release that’s got analysts excited either. Apple’s growing presence in China is expected to have a key impact on its share price, while hints at future product launches, including a reworked Apple TV and the much mooted Apple Car have generated excitement.
He added: “We believe Apple’s iPhone portfolio and position in China have never been stronger.
“We believe the combination of these forces will drive the market to reward Apple’s stock with an expanded P/E multiple, and we are raising our 12-month price target to $180 (~$1T cap; from $160).”
Apple is already holds the mantle for the highest company valuation in history.
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The Apple Watch will hit retailers on April 24 as the Cupertino-based company’s first new product category since the launch of the iPad back in 2010.
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