Apple charts new territory passing US$800 billion mark
Is the never before reached milestone a step on the way to US$1 trillion?
Apple’s market capitalization crossed the US$800 billion mark for the first time Tuesday, prompting the Wall Street Journal to ask the question: is it headed to US$1 trillion?
The gains this year have been helped by a big buy from Berkshire Hathaway and forecasts of a strong release of the 10th anniversary iPhone later this year.
The stock is currently trading at 15.7 times earnings, which is pricey but compares to an average tech stock P/E of 18.5.
The most bullish among investor forecasts sees the stock price jumping to US$202 over the next year, versus its current all-time high prices of US$153.99, which would bump Apple’s market cap above US$1 trillion.