Apple on course to become the worlds first trillion dollar company
Apple's recent quarterly performance blew away all expectations as the company brought in record high revenues and its shares went up by a significant margin, causing Apple's market cap to hit an all-time high value of $900 billion.
Not only multiple analysts from reputed firms like Morgan Stanley, Thomson Reuters, and Drexel Hamilton are confident that Apple will hit the $1 trillion mark soon, the company's CEO, Tim Cook, too has predicted that the upcoming quarter will prove to be the most profitable one ever.
As per a report from Fortune, Apple's shares have been rising in the weeks leading up to the iPhone X's launch and its success will give a major boost to the company's financial performance in the upcoming quarters.
Source: Beebom
How crazy that one company can be so large! If they were a country, their market cap (when it was around $800 billion) would have made it the 17th most valuable country in the world! Pretty crazy stuff.
I know a lot of analysts were waiting to see the results of the iPhone X sales. Initially, sales were predicted to be sluggish, as the market didn't seem to love the design of the new phone. However, sales appear to be going well, thus the next quarter should prove to be another strong one for this giant.
It may be a good time to invest?