Home Technology Apple tops first to worth over $800 billion in the market

Apple tops first to worth over $800 billion in the market

Apple Inc has crossed and hit new highs by pushing a market value to $800 billion for the first time on Monday.

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Apple Inc has crossed and hit new highs by pushing a market value to $800 billion for the first time on Monday.  This is one of the major landmarks for Apple today. According to the analysis report prepared by Brian White of investment firm Drexel Hamilton, the company could even break $1 trillion if it goes through the right track. Apple shares rapidly exceeded by 3% i.e. $153.44 per share with Apple’s 5.214 billion shares outstanding.

The iPhone maker mixed quarterly earnings in which it sold fewer phones than expected last week but all of them were of the high price. According to the FactSet, Wall Street seems to agree analysts have upped the stock’s 12-month price target nearly 30 times so far, this May. iPhone 8 is expected to launch late this year or early months of 2018. This launch is going to make Apple a brand-new wave of profit.

Apple has a cash of $250 billion that is sent outside and never returns to the US again. President Trump has a given a solution to encourage the companies so that they can bring their cash back to the US. There is a possibility of 10% that the cash might be returned to the US. They could then either invest or return the cash to the shareholders. Both the conditions would be favorable to the investors.

White positively said, ” Apple has proven its resilience through its unique ability to develop hardware, software and services that perfectly work together.” The analysts are thinking whether the company could create another bestseller product that competes with iPhone. White said, “What we’re starting to see here are dark clouds around this valuation of Apple which has been with the company for several years starting to part ways.” The rally conducted in the US stock market is also playing in favor of Apple. $250 billion overseas cash of Apple is strengthened by over $100 billion in debt that it has in the US.

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