Apple is $20 a share away from being the first $1 trillion company

0
6

  • Shares of Apple are up more than 4% after earnings.
  • The company saw a year/year increase for its iPhone, Mac, and iPad segments.
  • If the company hits $193.60 per share, it will have a market cap of $1 trillion.
  • Watch Apple’s stock price move in real time here.

 Apple is closer than ever to becoming the first-ever trillion dollar company in the US after its fourth-quarter earnings report.

Shares of the company are up 4.34% on Friday after the company’s fourth-quarter earnings result beat expectations. Apple reported GAAP earnings of $2.07 per share compared to Wall Street’s expectations of $1.87 per share, on revenue of $52.6 billion compared to the $50.5 billion expected.

Apple sold 46.7 million iPhones in the fourth quarter, for an average selling price that wasn’t boosted by the newer, higher-priced iPhones yet. It sold 11% more iPads than the same period last year, and 10% more Macs.

The jump that happened after the strong numbers means that Apple is only about $20 per share away from becoming the first $1 trillion company, as measured by market capitalization. The company needs to hit $193.60 per share, an 11% move higher from its current price of $175.12, to hit the fabled trillion dollar mark.

Massive crowds lining up for the iPhone X:

26 PHOTOS

Lining up for an Iphone X

See Gallery

A man pays to buy new iPhone Xs from those who just bought at Apple Stores, on a street in Hong Kong, China November 3, 2017. REUTERS/Bobby Yip TPX IMAGES OF THE DAY

A customer uses the new face-recognition software on the new iPhone X inside the Apple Store in Regents Street in London, Britain, November 3, 2017. REUTERS/Peter Nicholls

Apple Store staff greets customers who have been waiting in line to purchase Apple’s new iPhone X at the Apple Store in Tokyo’s Omotesando shopping district, Japan, November 3, 2017.REUTERS/Toru Hanai

Apple Store staff greets customers who have been waiting in line to purchase Apple’s new iPhone X at the Apple Store in Tokyo’s Omotesando shopping district, Japan, November 3, 2017.REUTERS/Toru Hanai

A store employee carries Apple’s new iPhone X during its global launch at a cell phone store in central Moscow, Russia November 3, 2017. REUTERS/Tatyana Makeyeva

A man tries out the Animoji feature on an iPhone X during its launch at the Apple store in Singapore November 3, 2017. REUTERS/Edgar Su

A man tries out the Animoji feature on the iPhone X during its launch at the Apple store in Singapore November 3, 2017. REUTERS/Edgar Su

First buyer Yamaura who denied to publicize his first name holds Apple’s new iPhone X as he poses to the media after purchasing it at the Apple Store in Tokyo’s Omotesando shopping district, Japan, November 3, 2017. REUTERS/Toru Hanai

Apple staff cheer as the first customer for iPhone X enters an Apple Store in Beijing, China November 3, 2017. REUTERS/Damir Sagolj

A man receives new iPhone Xs from those who just bought at Apple Stores, on a street in Hong Kong, China November 3, 2017. REUTERS/Bobby Yip

One of the first customers, Mod, 22 of Bangkok poses with his iPhone X during its launch at the Apple store in Singapore November 3, 2017. REUTERS/Edgar Su

People queue for the iPhone X launch outside the Apple store in Berlin, Germany, November 3, 2017. REUTERS/Hannibal Hanschke

The first customer shows his new iPhone X after buying it at an Apple Store in Beijing, China November 3, 2017. REUTERS/Damir Sagolj TPX IMAGES OF THE DAY

The new iPhone X is pictured at the Apple Store Marche Saint-Germain in Paris, France, November 3, 2017. REUTERS/Benoit Tessier

First customers to buy iPhone X Kittiwat Wang, 22, and Mod, 22, of Bangkok pose with their iPhone X at the Apple store in Singapore November 3, 2017. REUTERS/Edgar Su

Customers wait outside an Apple Store as new iPhone X goes on sale in Beijing, China November 3, 2017. REUTERS/Damir Sagolj

One of the first customers shows his new iPhone X after buying it at an Apple Store in Beijing, China November 3, 2017. REUTERS/Damir Sagolj

A man tries out the Animoji feature on an iPhone X during its launch at the Apple store in Singapore November 3, 2017. REUTERS/Edgar Su

People queue overnight for the iPhone X launch outside the Apple store in Singapore November 3, 2017. REUTERS/Edgar Su

People try out the Animoji feature on iPhone X handsets during its launch at the Apple store in Singapore November 3, 2017. REUTERS/Edgar Su

Ayano Tominaga (L) and other customers pose for a selfie photo with a cushion printed with a portrait of Apple co-founder Steve Jobs on it, as they wait in queue for the release of Apple’s new iPhone X in front of the Apple Store in Tokyo’s Omotesando shopping district, Japan, November 3, 2017. REUTERS/Toru Hanai TPX IMAGES OF THE DAY

Apple staff hold iPhone X packages at the Apple Store in Berlin, Germany, November 3, 2017. REUTERS/Hannibal Hanschke

New iPhone Xs that people who just bought at Apple Stores are reselling, are pictured on a street in Hong Kong, China November 3, 2017. REUTERS/Bobby Yip

A customer who has just bought Apple’s new iPhone X shakes hands with a store employee during its global launch at a cell phone store in central Moscow, Russia November 3, 2017. REUTERS/Tatyana Makeyeva

A customer prepares cash to buy Apple’s new iPhone X during its global launch at a cell phone store in central Moscow, Russia November 3, 2017. REUTERS/Tatyana Makeyeva




HIDE CAPTION

SHOW CAPTION

Apple is now worth more than $902 billion after the company’s earnings report, and has gained about 9.2% over the last month, meaning the $1 trillion mark could be right around the corner for the company. This calculation assumes that the number of outstanding shares stays at its current levels.

On Friday, Apple released its iPhone X. Customers stood in days-long lines for their chance to buy the new flagship phones, which were expected to be in limited supply due to production constraints.

“We’ll see how things go” was CEO Tim Cook’s response to one analyst asking about the perceived supply and demand mismatch for the iPhone X. The company issued guidance for the December quarter that was higher than analysts’ expectations though, which seemed to hint that Apple is expecting big numbers from the new phone.

Apple is up 44.74% this year following its post-earnings bump.

NOW WATCH: A $1 trillion money manager says the Trump Trade is back

See Also:

SEE ALSO: ‘Firing on all cylinders’: Apple crushes earnings, beating its own expectations

Read Full Story

Source Portal

LEAVE A REPLY

Please enter your comment!
Please enter your name here