With the release of iPhone 8 looming on the horizon, the Apple company shares have been steadily rising in the past few months. In the recent 2017 May, Apple’s stock hit all-time new high of $156 each share. Things have settled down since them and currently Apple’s trading in the $145/share range and some analysts are anticipating that to be a matter of time prior to the Apple shares soaring to greater heights. In fact, an analyst believes that Apple may become the first trillion-dollar company in the world in a period of just 12 months.
As per the new research from Brian White, analyst, Apple is the most underappreciated stocks, echoing a sentiment that investors are championing for some times. As a point of interest, the current P/E ratio of Apple’s is 16.9 and the P/E ratios in contrast for companies such as Google, Microsoft and Amazon is at 31, 30 and 183 respectively.
White believes that the shares of Apple may rise above the threshold of $200/share and would bestow Apple with a market cap of trillion-dollar.
Likewise the bottoming in Apple during 2013 summer drove a rally into the 2015 spring, writes White. While the shares of Apple may rise ahead in weeks and months, Apples is showing intention to increase its repurchasing of share limit from $175 billion to $210 billion.
Apple has 5.4 billion shares approximately outstanding, indicating it to reach a trillion-dollar market cap as the stock price hits $185.