An analyst has predicted that Apple is about to hit the trillion-dollar mark with the launch of its upcoming iPhone 8 smartphone.
In his report, which was obtained by MacRumours, Wall Street analyst Brian White claimed that the iPhone 8 cycle could help Apple’s stocks reach a $202 price target within 12 months. If that happens, Apple will be the first company in the world to be valued at £1-billion dollars (around £777-billion).
Apple’s current market capitalisation is $737-billion (around £575-billion).
That’s a lot of pressure on the iPhone 8, which is expected to launch mid-September this year – especially, as White points out, since Apple’s stock value has dropped around 9% after reaching an all-time high of $156.10 (£121) in May.
But White thinks this dip is a prime buying opportunity for investors as the company prepares to launch its next hotly-anticipated flagship.
He’s not the only one who thinks so, either. In fact, RBC Capital Markets analyst Amit Daryanan first predicted Apple’s trillion-dollar status back in May. Daryana cited the iPhone 8 and Apple’s upgrade cycle as being the likely catalysts for Apple tipping the trillion-dollar mark, and put a time-scale of 12 to 18 months for the tech giant to win the race.
It wouldn’t be a race without a competitor, however, and billion-pound hedge fund founder Scott Galloway has already placed his bets on Amazon getting there first.
Galloway told Re/code that this is no commentary on Apple. He said that Amazon captures the £90 to 98% of purchases that customers find tedious in a physical retail space, leaving only a small percentage of luxury shops and brands that will survive on the streets.
Related: iPhone 7 Plus
Do you think it’s likely Apple will tip the trillion-dollar mark? Let us know in the comments.
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Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
