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Apple Touches USD 1 Trillion Mark

 Friday, August 3, 2018  |  No Comments

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Washington D.C.:

Apple Touches USD 1 Trillion Mark

Tech giant Apple Inc. on Thursday became the first American public company to cross the one trillion dollars in value.

Apple reached the mark after its stock passed 207.04 dollars a share, CNN reported.

With a new all-time high of 207.05 dollars per share, Apple is now up more than 20 percent this year.

Shares surged after Apple reported earnings that topped forecasts and a healthy outlook on Wednesday.

In big reason behind this achievement are the solid sales of the iPhone 8 and X — particularly in China and Japan — and surging services revenue from the App Store.

The Wall Street believes Apple could go even higher. Thirteen analysts have a price target of above 225 dollars for Apple.

Amazon, Google owner Alphabet, and Microsoft have all rallied to near record highs this year, too. Amazon is worth nearly 900 billion dollars while Google and Microsoft are each now worth more than 800 billion dollars.

(Minimal edits applied, story generated from syndicated ANI feed)
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