Apple’s spectacular quarterly earnings, which had previously seemed like they’d be the calm before the iPhone X storm, have pushed Apple over the $900 billion valuation in pre-market trading, making it the first company in history to do so.
AAPL shares were marked 3.2 percent higher in after-hours trading, indicating a record high opening price of $173.49 for Friday.
During yesterday’s earnings call, Apple forecasted sales in the $84-87 billion range for the quarter, above analyst expectations of $85 billion. Not only does this indicate that people are excited about shelling out for the iPhone X, but the earnings also revealed that Apple’s other businesses are doing incredibly well also. (Check out our list of the 7 biggest earnings call takeaways here.)
It’s not only Apple that’s benefitting, either. According to The Street, the effects of Apple hitting the meteoric high could result in the Dow also soaring to its highest ever point.
On its ways to $1 trillion?
In all, it’s enormously positive news for Apple — and proof positive that the $1 trillion valuation that has been predicted by some analysts for the next year is looking a whole lot more likely than it ever has before.
The $900 billion market cap is just the latest in a number of valuation milestones for Apple. Back in May, it became the first $800 billion company in history, and previously broke records as the world’s first $700 billion company two years before that.
