Apple Predicted to Become $1 Trillion Company and be worth $1,111 per share in 2013
Apple recently announced another set of record earnings
, which elevated the company’s stock drastically shortly after. The boom continues as the company with the world’s highest market cap continues to smash analyst predictions consistently.
Previously, some analysts were claiming that Apple could possibly hit $1,000 per share by the end of the year but these estimates are being raised after Tuesday’s earning call. According to analyst Brian White of Topeka Capital Markets, Apple is on route to become a $1 trillion company with a market share of $1,111 in the next year. White contends that the valuation is a reasonable one as Apple "appears to be firing on all cylinders."
If you do the math, to become a $1 trillion company, Apple would have to hit a stock price of $1,072 but White is predicting a target of $1,111 per share in the year 2013. White’s previous target was $1,001 and the Cupertino California company is currently worth $570 billion with a market share price of $608 per share. That being said, with the announcement of the new iPhone, new Macs, iOS 6, and the impending release of an Apple branded television set, it wouldn’t be a surprise to see Apple stock soar once again. It’ll be an interesting feat to see what the company can achieve over the next year.