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Investing

Apple Market Cap Nearly Three Quarters Of $1 Trillion

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By Douglas A. McIntyre Updated Published
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Apple Market Cap Nearly Three Quarters Of $1 Trillion

© courtesy of Apple Inc.

[cnxvideo id=”655426″ placement=”ros”]Apple’s (NASDAQ: AAPL) market cap sits at $734 billion, as its shares have passed an all-time high of $141. A number of analysts believe that figure will go to $160, or higher. Apple is likely to be worth three-quarters of $1 trillion within the next several weeks, if not days.

Apple has posted a better share price growth this year than any other component of the Dow, up 20.9%. The Dow is higher by 5.3% to 20,915.

Apple’s shares have been driven recently more by rumor than hard numbers. Although the company’s number for the last quarter were impressive, that information is nearly two months old. Apple set a record for iPhone sales, along with record numbers for most of its other hardware. Its forecast for the current quarter was good but not spectacular. It was certainly not enough to drive the stock up to present levels.

[nativounit]

The primary drive of Apple’s advance has been speculation about its new iPhone 8, which is expected to be released in September. Recent versions of the iPhone have not been considered game-changing improvements over past ones. Also, they have not been considered strong competitors with the flagship products of rival Samsung.

[nativounit]

Website MacRumors is among the best providers of information about Apple products. It recently published comments on the next generation iPhone:

Apple has a major iPhone redesign planned for 2017, with a glass body and edge-to-edge OLED display that includes an integrated Touch ID fingerprint sensor and front-facing camera. The new iPhone may be sold alongside upgraded (but standard) 4.7 and 5.5-inch iPhones.

5.8″ OLED display
Faster A11 processor
Glass body
Edge-to-edge display
Camera and Touch ID integrated in display
No Home button
Wireless charging
Three models – One OLED, two standard

It is not overly simplistic to say that if the iPhone 8 features do not live up to this and similar descriptions, Apple’s stock may take a hit. However, if it appears the iPhone 8 has at least this set of features the stock has an excellent chance to gain more. And, of course, there is the issue of iPhone 8 sales.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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