Apple Officially Reaches $1 Trillion Value
By Pacey on August 2, 2018
Apple just became the first American public company to cross $1 trillion in value.
The iPhone maker achieved that big number on Thursday when the stock passed $207.04 a share. Its new all-time high is $207.05. Apple is now up more than 20% this year.
Their value is up mostly due to the incredible sales by the iPhone 8 and the iPhone X, especially in China and Japan. Not only that, we are buying just as many iPhones as before, except now we’re willing to pay $700-$1000 per iPhone, unlike the $400 it used to cost.
Wall Street thinks Apple could go even higher. Thirteen analysts have a price target of above $225 for Apple. The most bullish, Brian White of Monness, Crespi, Hardt & Co., has a price target of $275 a share. That would value Apple at $1.3 trillion.