Apple Inc. Not Far From the $1 Trillion Market Value
Apple Inc. made a record in February 2015, when its market valuation reached $774.7 billion. But in the first quarter (Q1) of 2017, Apple made yet another record that broke all its previous records and became the first company to reach a market valuation of $800 billion.
After this milestone, the Silicon Valley giant has undoubtedly become the first ever publictrading company to achieve this feat. Apple being the most valuable company in the Silicon Valley, has become even more valuable after reaching the $800 billion mark. To record this feat, not only in the Silicon Valley, Apple in fact has become the first giant company of the U.S to achieve this mark.
The Cupertino company also saw an all-time high in its share prices at $153.99, a 0.6 percent rise due to this valuation. In market circulation, Apple has almost 5.2 billion shares.
Moreover, Brian White, an analyst at Drexel Hamilton estimated Apple Inc.’s 12-month price target of per share at $202. This is a sign towards a major possibility that the Silicon Valley giant is paving its way towards hitting the mark of $1 trillion market valuation very soon.
However, Apple is seeing a stagnant phase in the sales of its Macs, ipads, and iphone units. Yet, the company is showing signs of growth in its market value. As a strategy for the future, Apple CEO, Tim Cook plans to target the higher-margin service segments like the App store and icloud, along with bringing new products to the market such as the Airpod wireless headphones and Apple Watches.
Even though Apple Inc. is not seeing a pink phase in its sales, we think that once the stagnant phase of sales is over, this company will strongly move towards the $1 trillion mark and it will manage to achieve the same. So even if reaching the market valuation of $1 trillion is maybe a few years away, it is definitely not a small speculation.