Apple Soars to $1.3 Trillion Market Cap
Apple has surpassed $1.3 trillion market valuation after company shares reached $290.82 in after-hours trading.
This is the highest market cap of the Cupertino-based tech giant after it exceeded $1 trillion valuation in September following the release of the iPhone 11 generation.
AAPL was valued at $289.911 at market close on December 26.
$350 price target
Apple stock is expected to continue growing in the coming months, especially throughout 2020 when the company is projected to unveil a new lineup of iPhones featuring 5G connectivity.
Dan Ives, Wedbush Securities managing director, said in an interview with Bloomberg that this push for 5G support on the iPhone could propel AAPL price to $350 next year.
And it all comes down to the supercycle, Ives explains, as a significant number of existing iPhone owners could upgrade their devices to new-generation mode… (read more)