Apple (NASDAQ:AAPL) might be the first company in the world that will get close to a market capitalization of $1 trillion. Apple’s market value, already the largest in the world by market capitalization, will reach $934 billion over the next 12 months, 60% more than at present, due to expansion in China and launch of the TV products. Apple stock price will increase by an additional 60% in 12 months at $1,001 per share, estimates analyst Brian White from Topeka Capital Markets, quoted by Bloomberg.
The new target price presented by Topeka was the most optimistic among the 45 analysts whose estimates are tracked by Bloomberg and an increase of 62% from the company’s current stock quote. Increased demand will be generated for the next generation of Apple iPhone and expansion in China and on the TV market, said Topeka analyst Brian White. Shares of Apple rose from the beginning of this year by 53%, surpassing for the first time the $600 threshold. Shares have closed Monday at $618.63 in New York, up by 3.2%.
At this price, Apple’s market value is $576.8 billion, well above the oil group Exxon Mobil, the second largest in the world by market capitalization at $410.4 billion. Brian White anticipates that China Mobile, the largest mobile operator in China, will introduce later this year the iPhone offer in its portfolio , opening a new market for Apple with millions of potential customers.
The shares rising will also be sustained by the successful transition in good condition after the death of co-founder of Apple, Steve Jobs, the analyst believes. Apple’s stock quotation increased by over 60% since Jobs’s death in October 2011. The CEO position was taken over in August by Tim Cook, a leading “lieutenant” of Steve Jobs. Apple had in the last fiscal year ended in September, revenue of $108.2 billion.
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