On Monday, Apple’s total market value became equivalent to nearly $800 billion USD ($1.09 trillion CAD). This means that California-based company can literally buy the Netherlands, for a year.
Apple’s shares hit a high this past Monday to $153.44 ($209 CAD) per share. According to Apple’s Q2 results, the company has 5.214 billion shares outstanding, resulting in the $800 billion USD ($1.09 trillion CAD) total market value.
Though Apple’s sales did not do as well as the company was expecting, analysts have upped Apple’s 12-month price nearly 30 times within the past nine days. This is due to the presumption of a stronger end of the year results.
After Monday, Brexel Hamilton analyst Brian White released Apple’s highest price target for 2017. The price target for Apple is at $202 USD ($277.19 CAD) a share putting the California-based company past $1 trillion USD ($1.372 trillion CAD), reported by CNBC.
Although the number might seem unrealistic, Apple is already almost there and with the rumoured iPhone 8 and the possible release of two other phones, it’s possible the tech giant could hit this mark.
“Our numbers are actually pretty conservative going into what I think will be a big cycle,” according to White.
Source: CNBC
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