March 23, 2015: As per the Guardian reports, Apple has been valued at more than $1tn, which is almost three times more than US's second most valuable company Google.
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| (Image Credits: AppleFantastic.com) |
Analysts at Cantor Fitzgerald on Monday said that they bought Apple shares trading currently at about $127, on this share value company valuing at $733bn. As per predictions, share will jump till $180 each, making a total value of a tech giant a worth more than $1 trillion.
This would make Apple an only company in the history to touch that mark. According to world bank statistics, this value is more than an entire GDP of Indonesia, the Netherland or Saudi Arabia.
Analyst credits Apple's strong performance is due to the company's strong position in China, where sales increasing by 70% year-on-year. Apple Watch added an extra value to it's already reputed brand.
Cantor Fitzgerald analyst Brian White said in his note to client: "Next month, Apple will enter its first new product category in five years, while media reports over the past several weeks have high lighted potential new areas of future innovation," he further added, "Also, we believe Apple iPhone's portfolio and position in China have never been stronger. Finally, Apple has shown its commitment to returning cash to shareholders, and we expect more in April. We believe the combination of these forces will drive the market to reward Apple's stock."
As per the analysts, Apple Watches may sell 25m in the 2016 financial year, makinf revenue of about $11.7bn.
Source:TheGuardian
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