Historic! Apple first US company to hit $1.5 trillion in market capitalisation; 5G iPhone entry behind boost
Apple has become the first US company that reached $1.5 trillion market cap and according to the investors and analysts, strong App Store sales, ARM chips-run Macs and a 5G iPhone this fall are the reasons for the surge in stock of the Cupertino-based iPhone maker.
At a current price of $352 per share and 4.3 billion shares outstanding, Apple`s market cap hit around $1.53 trillion on Wednesday, reports Mac Rumors.
Riding on its growing services and wearables business, Apple may become the first company ever to touch the $2-trillion valuation mark in next four years, a top analyst forecast recently. (Photo: Reuters)
"Apple would reduce its share count by about 1 billion shares in the forecast period, from 4.6 billion at the end of fiscal 2019 to 3.6 billion in fiscal 2024.
"At that share count, the market cap would hit $2 trillion if the stock price was just over $550," wrote Barron`s analyst Amit Daryanani. (Photo: Reuters)