Business

Is Apple worth a trillion dollars?

For all the hoopla, the leap to $US1,000 would be a big hike for a company that has already enjoyed a record run on the stock exchange. (CEO Tim Cook pictured)
For all the hoopla, the leap to $US1,000 would be a big hike for a company that has already enjoyed a record run on the stock exchange. (CEO Tim Cook pictured) Supplied

THE world's insatiable appetite for all things Apple appears to be reaching new levels. Silicon Valley's hottest company could soon become the world's first trillion-dollar company, according to Wall Street analysts.

This week analyst Brian White of Topeka Capital Markets sparked a media frenzy with his headline-grabbing prediction that Apple's already sky-high share price will touch $US1,000 within 12 months. Piper Jaffray's Gene Munster countered with an ever so slightly less bullish case that Apple's share price would hit four figures by 2014.
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The technology group achieved another milestone on Thursday as Apple's stock price rose above Google's for the first time. Steve Jobs, Apple's late co-founder, is rumoured to have decided against splitting Apple's stock in order to one day pass Google's share price.

But for all the hoopla, the leap to $US1,000 would be a big hike for a company that has already enjoyed a record run on the stock exchange.

Last week Apple's shares were worth $US633.38 each - slightly more than a mid-range iPad. A year ago they were changing hands at $US341. At its current price Apple is valued at $US590.82bn, making it the most valuable company in the world. At $US1,000 Apple would be worth nearly $US1tn. No other company has been valued at anything like that price. "Apple fever is spreading like a wildfire around the world," White said in his report.

Read more at Brisbanetimes.com.au

Topics:  apple shares steve jobs stock market tim cook wall street



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