Apple Nears Trillion Dollar Mark

by | Aug 1, 2018 | NEWS

Apple, Inc.’s (NASDAQ: AAPL) stock price jumped Wednesday after speculation about the new iPhone model due to launch in September sent analysts into a frenzy.

Shares rose as high as $201.32 Wednesday morning, up 5.7 percent. It was the first time Apple’s stock has reached $200.

The price needs to reach just $207.05 for the company to be valued at $1 trillion. This price was adjusted Wednesday after reports of current share counts.

The tech giant has already seen steady growth this year. The stock was trading at under $150 per share this time last year and has climbed steadily since.

According to CNBC, Apple has gained 18 percent in 2018 and 30 percent in the last 12 months.

The short push to $207 is not unreasonable. Especially given the growth reported in their fiscal 2018 third-quarter report, which the company released Tuesday afternoon.

“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said Tim Cook, Apple’s CEO. “Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”

The iPhone X is a strong reason for the company’s recent growth. Set at a whopping price of $1,000, Apple doesn’t have to sell many to make big bucks.

There is also analyst speculation that September will see the release of lower-priced models, opening Apple’s market to customers from all price-points.

If Apple does reach $1 trillion, it will be the first U.S. company to do so.