Apple Inc became US biggest company with 800 Billion USD in market capitalization on 4th May, 2017. Just before 2 years Apple crossed 700 Billion. If Apple continues on its growth path, the company will top the $1 trillion market cap level later this year.
The iPhone maker’s shares have gained 33 percent this year and almost 50 percent since the U.S. election in November.
Apple accounted for as much as 4.9 percent of the S&P 500 in September 2012 but is a smaller percentage now as the index as a whole has rallied more than 7 percent this year.
“It’s just reflective of how powerful a franchise it is. It may be the most powerful franchise in the country today,” said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey, whose firm does not own the stock.
“Considering that it has a limited number of products, it has really dominated that market in a way that few companies have, and it’s been able to retain margins despite lots of competitors.”
The median price target on Apple is $160, up from the $140 median three months ago. Shares closed at $153.99 on Tuesday. The closing market cap of $802.8 billion.
Billionaire Warren Buffett, whose Berkshire Hathaway has disclosed a stake of roughly $20 billion in Apple, said on Monday he had grown more fond of the company because he could “very easily determine” the iPhone maker’s competitive position “and who is trying to chase them.”
This post has been seen 129 times.