Apple's ride to $1 trillion: The magic number that gets it there

Apple is close to becoming the first publicly listed U.S. company valued at $1 trillion, but figuring out exactly how close requires doing a little math.

Based on Apple`s Tuesday earnings release, the magic number that gets the iPhone maker to $1 trillion right now is $206.49 - but probably not for long.

Apple`s stock was up 5.4 percent at an all-time high of $200.48 on Wednesday, thanks to the company`s better-than-expected results and its aggressive share buybacks.

TRENDING NOW

iQOO 12 with SD 8 Gen 3 launch set to launch in India soon

NPS (National Pension System): How to create a corpus of Rs 5 crore with Rs 442 investment/day? After retirement, you will get Rs 2.5 lakh every month

Mcap of seven of top-10 most valued firms added Rs 3.04 lakh crore; HDFC Bank, LIC biggest gainers

FPIs invest Rs 26,505 crore in equities in 1st six sessions of December

India vs South Africa 1st T20I Free Live Streaming: When and Where to watch IND VS SA T20I series Match LIVE on Mobile Apps, TV, Laptop, Online

Manu Ahuja, CEO of Jubilant Agri and Consumer Products, passes away

Post Office Time Deposit Scheme: Interest up to 7.5%, guaranteed returns, fixed income, preclosure rules, other benefits

CLAT 2023 result to be released today on consortiumofnlus.ac.in - Final answer key out

Tata Motors to hike commercial vehicle prices by up to 3% from January 1

NT Awards 2023: Zee Business shines in five categories

Centre makes air-conditioned truck cabin mandatory from October 2025

Animal Box Office Collection: Ranbir Kapoor-starrer touches Rs 600 crore mark worldwide | Check OTT release details

India seeks to settle WTO import duty dispute with EU on ICT goods through free trade talks

COVID-19 Update: India records 148 new coronavirus cases, infection tally stands at 4.50 crore

Sebi plans to introduce 'fast track' concept for public issuance of debt securities

As part of its June-quarter report late on Tuesday, Apple said it bought back $20 billion of its own stock and that its share count as of the end of June had declined to 4,842,917,000, which would mean its stock price must reach $206.49 for the company to hit a $1 trillion market capitalisation.

Based on the share count listed on its balance sheet on Tuesday, Apple`s stock market value was at $971 billion.

However, Apple is expected on Wednesday to file its more detailed quarterly report to the Securities and Exchange Commission with an even more recent share count, which may well show a further dip due to Apple`s buyback programme. If that is the case, then Apple`s would need to hit a higher stock price to touch a market value of $1 trillion.

"Once that 10-Q comes out, the numbers will change," said S&P Dow Jones Indices analyst Howard Silverblatt, who is currently focused on $206.49 as the number to watch. "Apple has been very vocal that they plan to continue their buybacks and obviously they have the resources."

Pegging a company`s share count - and market capitalisation - is often a moving target.

Ahead of Apple`s report on Tuesday, its most up-to-date share count was 4,915,138,000. At that count, its stock would have had to hit about $203.45 for Apple`s market value to reach $1 trillion.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)