Last weekend, Apple announced another set of record earnings. These earnings elevated the company’s stock drastically shortly after.
The boom continues as the Cupertino, California-based company with the world’s highest market cap continues to smash analyst predictions consistently.
Previously, some analysts were claiming that Apple could possibly hit $1,000 per share by the end of this year. However, these estimates are being raised after last week’s earning call. Analyst Brian White of Topeka Capital Markets said that Apple was on route to become a $1 trillion company with a market share of $1,111 in the next year. White contended that the valuation was a reasonable one as Apple “appears to be firing on all cylinders.”
To become a $1 trillion company, Apple would have to hit a stock price of $1,072. However, White predicted a target of $1,111 per share in the year 2013. White’s previous target was $1,001 and the Cupertino California company”s current worth is $570 billion with a market share price of $608 per share. With the announcement of the new iPhone, new Macs, iOS 6, and the impending release of an Apple branded television set, it should not be a surprise for anyone to see Apple stock soar once again. It will be an interesting feat to see what the company can achieve over the next year.