Apple reaches $1 trillion value – Big news for the world
On thursday 2, August 2018 Apple just become the first American public company to cross $ 1 trillion in value.
The founder of apple Steve Jobs who died in Palo Alto on October 5, 2011 had a vision to be the world richest company.
The iPhone maker acheived the target on thursday when the stock passed $207.04 a share.
Although,Apple is not the first publicly traded company in the world to surpass the trillion dollar mark though.
Oil giant PetroChina (PTR) briefly topped a trillion dollar valuation in 2007 when its stock began trading in Shanghai, but shares quickly plunged afterward. PetroChina, which is also listed on the New York Stock Exchange, is now worth about $205 billion.
What Wall Street thinks about Apple reaches $1 trillion value :
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.
Apple is benefiting from investor euphoria surrounding the tech sector broadly as well — and it could soon have company in the trillion dollar club.
Amazon (AMZN), Google owner Alphabet (GOOGL) and Microsoft (MSFT) have all rallied to near record highs this year, too. Amazon is worth nearly $900 billion while Google and Microsoft are each now worth more than $800 billion.