Apple Reaches $800 Billion Valuation On Path to Becoming World's First Trillion Dollar Company

Apple's stock is currently trading above the $153 mark for the first time ever, after factoring in a 7-for-1 split in 2014, giving the company a record-high market cap of roughly $800 billion. That means Apple is within $200 billion of becoming the world's first trillion dollar company.


Google Finance values Apple at closer to the $810 billion mark today, but the tool appears to be overcounting the company's number of outstanding shares, which totaled 5,225,791,000 as of last quarter. Apple's outstanding shares have declined as the company continues its share buyback program.

Apple's stock has been on an impressive run since dropping to as low as $89.47 in 2016, when the iPhone maker reported its first decline in annual revenue since 2001, and its first drop in iPhone sales ever.

Apple analyst Brian White of Wall Street investment firm Drexel Hamilton continues to believe Apple "remains among the most underappreciated stocks in the world," with "attractive upside" for investors. White raised his 12-month price target for Apple's stock to $202 today, up from an already bullish $185.

An excerpt from White's research note, distributed today and obtained by MacRumors:

Apple's valuation has been depressed for years as investors grew concerned that Apple would fall victim to the missteps of consumer electronic companies of the past. However, Apple has proven its resilience through its unique ability to develop hardware, software and services that work seamlessly together. We believe this positions Apple very well to capitalize on the trend toward more "things" becoming a computer.

White's price target implies that Apple could become the world's first trillion dollar company within the next year. Apple shares trading for $202 would currently give the company a market cap of around $1.05 trillion.

Over a dozen prominent Wall Street analysts remain upbeat about Apple's stock price heading into the second half of the year, with lots of excitement surrounding the significantly redesigned "iPhone 8" expected to launch in the fall. The smartphone's sales may be boosted by a large "supercycle" of users due to upgrade.

Apple's stock had briefly declined to as low as $144.27 last week after its second quarter earnings results fell slightly below Wall Street expectations, but the drop proved to be only a blip on the radar.

Update: Apple's market cap has reached $800 billion. This article has been updated accordingly.

Top Rated Comments

(View all)
Avatar
44 months ago
One of the few large companies in the world who actually DESERVE their earnings because it is based on products that people want and make the world a better place. Well done Apple!!!:cool:
Score: 37 Votes (Like | Disagree)
Avatar
44 months ago

And yet with all this cash the apple executives continue to take out loans because they are unwilling to pay taxes to the country they live and work in.

They pay tax in the country where the products are sold. Why should they pay another 35% US tax?

Is it okay for google and Microsoft to do the same thing or are you always anti Apple only?
Score: 23 Votes (Like | Disagree)
Avatar
44 months ago
One Treeelion dollarsss O.o

Score: 22 Votes (Like | Disagree)
Avatar
44 months ago
And yet with all this cash the apple executives continue to take out loans because they are unwilling to pay taxes to the country they live and work in.
Score: 15 Votes (Like | Disagree)
Avatar
44 months ago
a billion dollars and we can't even get a proper mail app. let alone siri 2.0 that actually works.
Score: 15 Votes (Like | Disagree)
Avatar
44 months ago
As we've all said before, they are doomed.


/s
Score: 15 Votes (Like | Disagree)

Top Stories

iOS 14 Widgets Offer iPhone Users Creative Home Screen Ideas

Sunday September 20, 2020 8:43 pm PDT by
Updated on September 22nd with hands on video. In iOS 14, Apple introduced ‌the concept of Home Screen‌ widgets, which provide information from apps at a glance. Widgets can be pinned to the Home Screen in various spots and sizes, allowing for many different layouts. Despite the relative lack of...

iPhone 12 Lineup Rumored to Be Named 'iPhone 12 mini,' 'iPhone 12,' 'iPhone 12 Pro,' and 'iPhone 12 Pro Max'

Monday September 21, 2020 5:24 am PDT by
Leaker known as "L0vetodream" has today shared the alleged naming for the upcoming iPhone 12 lineup on Twitter. The tweet proposes that the upcoming iPhone 12 models will be titled "iPhone 12 mini," "iPhone 12," "iPhone 12 Pro," and "iPhone 12 Pro Max." The names likely correspond to the three expected sizes of iPhone 12, with the 5.4-inch model being the iPhone 12 mini, the 6.7-inch model ...

PSA: New Apple Watch Owners Have to Return Entire Device for Ill-Fitting Solo Loop or Braided Solo Loop

Monday September 21, 2020 3:26 pm PDT by
With the Apple Watch Series 6, Apple introduced two new band options, the Solo Loop and the Braided Solo Loop. These new bands are unique because they have no clasps, buckles, or other fasteners, and instead use a stretch design to allow them to pull onto the wrist over the hand. Because these bands are not adjustable, Apple sells each one in nine different sizes to make sure each person...

Hands-On With iOS 14 Widgets, Custom Icons, and Home Screen Setup

Tuesday September 22, 2020 3:25 pm PDT by
Apple with iOS 14 introduced widgets on the Home Screen, leading to unprecedented levels of customization for the iPhone. Combined with Shortcuts that let you change an app's icon, iOS 14 lets you create a whole new look for your Home Screen. Subscribe to the MacRumors YouTube channel for more videos. We've been following along with some of the creative alternative Home Screen designs that M...

Apple Releases First Public Betas of iOS 14.2 and iPadOS 14.2 With New Shazam Control Center Options

Monday September 21, 2020 10:34 am PDT by
Apple today seeded the first public betas of upcoming iOS 14.2 and iPadOS 14.2 updates to its public beta testing group, a few days after seeding the first betas to developers and a little less than a week after releasing the iOS 14 and iPadOS 14 updates. Public beta testers who have signed up for Apple's beta testing program can download the iOS and iPadOS‌ 14.2 updates over the air after ...

Microsoft Announces Outlook for Mac Redesign, Improvements to iOS and watchOS Apps

Tuesday September 22, 2020 8:56 am PDT by
Microsoft has today announced plans to bring a new design to its Outlook for Mac app along with several other improvements and features for Outlook on iOS and watchOS. In preparation for the public release of macOS Big Sur, Microsoft has been testing a new design for Outlook on Mac. The design includes Microsoft's Fluent icons and several design cues from Big Sur such as rounded corners....

Kuo: Apple to Accelerate Adoption of Mini-LED Displays in iPad and Mac Notebook Lineups

Sunday September 20, 2020 10:00 pm PDT by
Increased competition among Apple's suppliers for mini-LED display chips will accelerate the company's adoption of the advanced technology in its iPad and MacBook lineups, according to a new research note from analyst Ming-Chi Kuo seen by MacRumors. Kuo says that while Epistar had been predicted to be the exclusive supplier of mini-LED chips for Apple products in 2021, Sanan Optoelectronics...

Interest in iOS 14 Home Screen Ideas Helps Pinterest Break Daily Download Record

Wednesday September 23, 2020 4:37 am PDT by
Apple's introduction of widgets on the Home Screen in iOS 14 has driven a surge in interest among users looking to customize their iPhone, and that has reportedly had a knock-on effect for Pinterest, whose iOS app has seen record downloads as users flock to its content seeking design inspiration. As reported by TechCrunch, App Store intelligence firm Apptopia was first to note the impact of ...

Apple Releases Eighth Beta of macOS Big Sur to Developers [Update: Public Beta Now Available]

Tuesday September 22, 2020 10:08 am PDT by
Apple today seeded the eighth beta of an upcoming macOS Big Sur update to developers for testing purposes, close to a week after releasing the sixth beta and more than two months after the new update was unveiled at the Worldwide Developers Conference. The macOS Big Sur beta can be downloaded through the Apple Developer Center and once the appropriate profile is installed, subsequent betas...

AT&T Already Working on 6G, Says 5G iPhones Might Not Be 'Massive Event' Due to Economic Uncertainty

Monday September 21, 2020 10:05 am PDT by
Apple's upcoming launch of 5G iPhones might not be a "massive event" due to economic uncertainty amid the global health crisis, AT&T Communications CEO Jeff McElfresh said in a paywalled interview published by CNBC. "I do believe that you will see many of the iPhone subscribers move to upgrade to the device," said McElfresh. "But I wouldn't forecast that it's going to be a massive event. I...