A key analyst at a Wall Street financial services firm has made some predictions on where Apple’s shares are heading.
Cantor Fitzgerald’s Brian White is already a big supporter of Apple, but his latest views suggest something much more headline-worthy than his usual high-projecting predictions: Apple will be the world’s first $1 trillion company.
The majority are aware of Apple’s gargantuan market value and large cash reserves, but if White is correct, the company’s far off slowing down.
Specifically, says the Wall Street Journal, White has boosted his price target to $180 per share – a $20 increase. This is already far ahead of other analysts in the field and puts the outlook for shares 40% higher than its current position.
The $1 trillion mark would be reached if it met these predictions.
Apple’s shares were currently trading at $127.26 yesterday, notes the article – up 15% this year.
But will the magic number be reached? And how? White believes its a tripled-pronged approach: new products (Watch, possibly new Apple TV and streaming service), its activities in China (improving 4G service) and cash (it’s expected that Apple will buy even more stock back from shareholders.
White expects Apple to make announcements on the latter in April.