Apple has become the first American company to cross the $1,000,000,000,000 value mark. This happened yesterday when the iPhone maker’s stock passed $207.04 a share. So far shares have hit all time high of $208.38.This increases Apple’s value by 20% this year.
This increase in value is thanks to sales from the iPhone 8 and X in especially China and Japan, as well as sales from its App Store.
‘Wall Street thinks Apple could go even higher. Thirteen analysts have a price target of above $225 for Apple. The most bullish, Brian White of Monness, Crespi, Hardt & Co., has a price target of $275 a share. That would value Apple at $1.3 trillion.’ – CNN
“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.”
“Our strong business performance drove revenue growth in each of our geographic segments, net income of $11.5 billion, and operating cash flow of $14.5 billion,” said Luca Maestri, Apple’s CFO. “We returned almost $25 billion to investors through our capital return program during the quarter, including $20 billion in share repurchases.”
Other tech companies doing well are Amazon whose value is almost $900 billion and Google and Microsoft who are valued at over $800 billion.