Apple is on track to reach a remarkable milestone: a $1 trillion market value.
The company’s shares are up about 13% this year as of June 12, and the iPhone maker is now worth about $945 billion.
It will only take another 6% advance to $202.30 a share, for the company’s market capitalization to reach $1 trillion.
As big as Apple is, it’s still putting up some very impressive numbers in my view. Its sales grew by 16% during the first quarter of 2018.
Apple’s iPhone 8 and X smartphones are doing well in China and Japan. Then there’s the steady services revenue from the App Store.
The company boasts $267 billion in cash and has been generous to its investors with a stock buyback program and dividends.
Blasting through the $1 trillion mark would be a remarkable achievement for Apple, in my opinion.
Next up might be Amazon (AMZN), which is trading near all-time highs and is now worth more than $824 billion.
Such are the boom times in the US tech market.
- Xavier Brenner has covered global market, business and economic trends for Interactive Brokers Asset Management since 2013. An experienced financial journalist, Brenner offers analysis and insights on the stories that matter to the discerning investor.