Shares of Apple surged in early trading on Monday, briefly rising 2.87% to $153.44, pushing the company's market value above $800 billion for the first time based on 5.214 billion shares outstanding. More analysts pointed out that the market is generally optimistic about iPhone8, if the sales ideal, Apple market value is expected to be the first to break the trillion dollars.
Less than three months after reaching $700 billion
Back in February 2015, Apple's stock passed the $700 billion mark, making it the first publicly traded company in U.S. history to surpass that mark.
Subsequently, Apple's stock price fluctuated from a high to a low of $89.47 in May 2016. Subsequently, the stock price rose all the way, and the market value stood at $700 billion again. Then the stock continued to perform strongly, eventually successfully reached the market cap of $800 billion. The time difference between $700bn and $800bn is less than three months.
As Apple's stock has soared, Wall Street analysts have given positive forecasts. So far, analysts have raised their 12-month price targets on Apple nearly 30 times. Some analysts have a target price of $202. That means analysts are confident Apple is worth more than a trillion dollars.
The iPhone8 was widely anticipated
Apple's earnings last week were mixed, even as its stock hit new highs. Sales of Apple's iPohne were lower than expected, but prices were raised. Meanwhile, Apple's sales in Greater China were weak. Tim Cook, the company's chief executive, is more optimistic. He said part of the reason for the decline was that consumers were waiting for the company's next product, the iPhone8, to be released in September.
According to sources from supply chain manufacturers in Taiwan, Apple Inc will release the iPhone8 and iPhone 7s series as scheduled in September, but the iPhone8 will be slightly delayed to October. Taiwan Semiconductor, Substrate-like PCB makers Zending and Jingsuo Technology, and battery supplier Simplo Technology are all preparing to mass produce their components in June.
Analysts say the stock has further to run given the upcoming iPhone 8, overseas cash flow and other new products on the horizon.
Due to the redesign and new technology, the iPhone 8 will cost $80 more to make and will eventually sell for more than $1,000, according to authorities. However, in random interviews in the US, Europe and China, many people said they would consider buying an iPhone8 if it came out.
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