Apple's Beats brand in April unveiled the Powerbeats Pro, a redesigned wire-free version of its popular fitness-oriented Powerbeats earbuds.
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:
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.
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.
Tags: Brian White, AAPL
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29 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:
29 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?
29 months ago
a billion dollars and we can't even get a proper mail app. let alone siri 2.0 that actually works.
29 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.
29 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 play by the rules, fair and square.
With interest rates so low, it makes perfect sense to have taken these loans.
If you feel you should pay more taxes than the rules say you need to, you could volunteer to pay more I suppose, but few people do that. The rules govern what is to be paid.
I think Trump is changing some of the rules so that over $1 Trillion can be brought back to the USA soon.
This will have a positive effect on the USA.
29 months ago
What error with the iPhone 7 design?
The only "error" is that it looks like the iPhone 6, which is a complaint thrown around by those who want new for the sake of new. There is no error with its design.
29 months ago
a billion dollars and we can't even get a proper mail app. let alone siri 2.0 that actually works.
Right, because ALL of Apple's money goes only into the development of Siri and Mail. They have absolutely NOTHING else to work on or worry about!
29 months ago
Honestly from that valuation and potential to cross 1 Trillion dollars you would think the products and software would reflect that. You could erase the last 3 years and apple hasn't improved a single feature IMHO they are making missteps and investors should be freaked the F out, the next iPhone if just an iteration could take down apple in one fell swoop.
I'm not saying apple has to innovate, they just have to keep products up to date and stop making errors like the iPhone 7 design and the MacPro trash can etc.
I'm not saying apple has to innovate, they just have to keep products up to date and stop making errors like the iPhone 7 design and the MacPro trash can etc.
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