Apple became the first American public company to cross $1 trillion value mark on Thursday of August 2, 2018, when its stock price ascended to $207.04 per share. The price got even higher after, i.e. $208.38.
Apple’s share flew up this way as it made more profit by selling high-priced devices and earning exceeded the forecast. The company sold a very good number of its iPhone 8 and iPhone X, largely in China and Japan, and also collected upsurging service revenue from App Store.
As per the Wall Street, thirteen analysts have targeted even higher share price — above $225 a share for Apple and they believe that the company can go further high. The most bullish, Brian White of Monness, Crespi, Hardt & Co. has the price target of $275 per share. If this target meets than Apple will be worth $1.3 trillion in value.
Similarly, Amazon, Google owner Alphabet, and Microsoft also summoned to near record highs this year. Amazon is worth around $900 billion. Google and Microsoft, on the other hand, are both worth over $800 billion.
But, Apple is not the first public company in the world to surpass the trillion dollar mark. The Chinese Oil and Gas company, PetroChina had reached the trillion dollar mark in the year 2007 as its stock began to trade in Shanghai, but the share price fell pretty soon. PetroChina is now worth nearly $205 billion and is listed on the New York Stock Exchange.
Apple is soon launching their upcoming iPhones that will go head to head against the likes of the rumored Galaxy Note 9.