Apple tipped to become first $1 trillion company
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.
Related: iPhone 6S release date
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.
Set to come in three guises, Apple Watch Sport, Apple Watch and Apple Watch Edition, the firm’s first wearable will go head-to-head with the likes of the Moto 360 and LG G Watch R.
Will you be buying an Apple Watch at launch? Let us know via the comments section below.