Another analyst has thrown his name into the hat by predicting that Apple will be the world’s first $1 trillion company within the next year.
Analyst Daniel Ives of GBH Insights suggests that AAPL could trade at between $210 and $230 at some point during the next 12 months. The top end of that range would put the share price at close to 35 percent more than it is currently trading at. And push it over the fabled $1 mark in the process!
Ives put the likely boost to Apple’s share price down to several reasons — including the iPhone X acting as a, “major upgrade cycle,” and a “renaissance” in China.
“It all comes down to the success and elongated demand trajectory of iPhone X over the coming quarters to determine if Apple finally ends up joining the elusive trillion dollar market cap club in 2018, in our opinion,” Ives wrote in a note to investors.
Apple’s race to the $1 trillion market cap
Daniel Ives isn’t the first analyst to predict that the next year will be the one in which Apple makes history by passing the $1 trillion market cap.
Drexel Hamilton analyst Brian White has been vocal about calling AAPL one of “the most under-appreciated stocks in the world,” despite its high value, and saying it should soon pass the $1 trillion mark soon.
Analysts at RBC Capital Markets have also claimed that Apple could be pushed over the $1 trillion point by the Trump administration’s planned U.S. tax changes — particularly tax deduction caps for interest expenses, tax rates on foreign profits, and a lowered repatriation tax.
Apple was previously the first company in history to surpass the $700 billion, $800 billion, and — most recently — $900 billion milestones. The company’s current market cap (referring to the total value of all stock in circulation) sits at around $868.1 billion.
At time of writing, AAPL was trading at $170.92.