LONDON: Apple will
become the world’s first
trillion-dollar company
when its shares top $1,000
each, Wall Street analysts
have predicted. The technology giant’s
shares were worth $633.38
last week as its stock price
rose above Google’s for
the first time, the Daily
Mail reported Friday. Brian White, of Topeka
Capital Markets, then
claimed Apple’s sky-high
share price will hit four
figures within 12 months –
making the company worth $1 trillion.
He said in his report:
“Apple fever is spreading
like a wildfire around the
world.”
Gene Munster, of Piper Jaffray, followed that up
by claiming Apple stock
will hit $1,000 – but by
2014.
The company, based in
Cupertino, California, is already the most valuable
company in the world
currently valued at $
590.82 billion, according to
the newspaper.
Just a year ago the shares were changing hands at $
341. In January, Apple
revealed it had more than
doubled its profits to $
13.06 billion, compared
with $6 billion for the same quarter in 2010.
Tim Cook, Apple’s chief
executive who took over
from the late co-founder
Steve Jobs, said: “We
could have sold more if we’d had more supply. We
could not be happier.”
Apple’s growth is
expected to be driven by
sales in China, where
January’s launch of the iPhone 4S triggered a
near riot in Beijing, the
Mail said.
Earlier this year Morgan
Stanley analyst Katy
Huberty predicted Apple could sell 40 million
iPhones in China this year.
Apple is also expected to
move into the TV market
after the launch of its set-
top box Apple TV.
Source: http://timesofindia.com
Tech News by Shariq Kazi 