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.
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