Apple Inc. is without any doubt the world leader in personal technology. After the advent of the iPhone Apple grew by leaps and bounds. Now, fans eagerly await the next device to be released by the Cupertino, California based company.
Apple has set the standard when it comes to the mobile industry, and it's no small wonder that enthusiasts wait for hours in line to buy the latest iPhone or iPad. The shareholders of the company have made huge profits over the last decade, and the past two years have been especially profitable for Apple. Analysts, like Gene Munster of Piper Jaffray, have touted the company's stock as a definite buy.
Now, Brian White, an analyst for Cantor Fitzgerald, has set the company's value higher than ever before. Fortune.com reports that White set the price target for Apple Inc. shares at $180. This is a $20 increase from his last target. At this price Apple will have grown large enough to pass the $1 trillion mark in worth.
This is a huge milestone for the company, and it is no small mark to reach. To give you an idea of how much Apple is worth, the World Gold Council has said that all the gold ever mined throughout history totals $8.5 trillion. This means Apple is worth nearly 1/8 of every ounce of gold ever mined!
The statement from White said in part, "Next month, Apple will enter its first new product category in five years, while media reports over the past several weeks have highlighted potential new areas of future innovation. Also, we believe Apple's iPhone portfolio and position in China have never been stronger. Finally, Apple has shown its commitment to returning cash to shareholders, and we expect more in April. We believe the combination of these forces will drive the market to reward Apple's stock."
Business Insider also noted that White's excitement over the possibility of an Apple Car might have been a contributing factor in his decision to raise the target.
Whats your take on Apple's worth? Is this mega-giant really worth $1 trillion, or is someone blowing smoke? Tell us what you think in the comments!
