Riding on the ‘better-than-expected iPad and iPhone sales’, the upcoming flagship device iPhone 8 could make the Cupertino-based giant the first company to reach and sustain a $1 trillion market cap, analysts have predicted.
According to a report in MarketWatch, the stock momentum has added $56 billion to the company’s market cap. Analysts from investment service company RBC Capital predicted that the stock momentum will continue as Apple will launch its flagship device iPhone 8 in mid-September.
RBC analysts said the iPhone 8 launch will create a ‘super cycle’ for the company.
“Apple has potential to achieve a $1 trillion dollar market cap and even surpass that over the next 12 to 18 months. We see upside occurring from multiple levers,” Amit Daryanani, lead analyst on the note, was quoted as saying.