14 DAY TRIAL // The announcements that Apple released at the WWDC conference a few hours ago pushed the company insanely close to $1 trillion market valuation.
AAPL shares reached $193.32 during the WWDC keynote, which means that Apple was worth a little over $950 million, eventually dropping to $192.12 in after-hours trading. In order to reach the $1 trillion milestone, AAPL needs to be priced at $197.
The upcoming 2018 iPhone unveiling due to take place in September is very likely to finally push the company beyond the $1 trillion market cap, thus making Apple the first firm in the world to be worth that much.
Hardware for the win
Software has never been the main catalyst to drive Apple’s growth, and analysts were reluctant as to how much the stock price could increase following the WWDC keynote. But it’s now believed that Apple could jump past the $1 trillion threshold in September when it takes the wraps off its 2018 iPhone trio, once again proving that hardware continues to be the number one growth engine of the firm alongside services.
“Now all eyes are on the trifecta of a major iPhone product cycle for second-half 2018, the recently upped buyback program and a multiple re-rating that we believe will move shares toward the $200 range/trillion-dollar mark over the coming months,” Daniel Ives, head of technology research at GBH Insights, was quoted as saying in a note to clients.
This year, Apple is expected to launch three different iPhone models, one of which would come with an LCD screen specifically to be sold at a lower price. The device, however, could lack key features, including 3D Touch and a dual-camera system.
More information on these models will probably land in the coming months as we approach the rumored unveiling date, as Apple is close to beginning trial production ahead of the September launch.