Apple Inc has added another feather to its cap. Apple has become the first US company that reached $1.5 trillion market cap.
At a current price of $352 per share and 4.3 billion shares outstanding, Apple’s market cap hit around $1.53 trillion reports Mac Rumors.
According to reports, Apple may become the first company ever to touch the $2-trillion valuation mark in next four years. Apple was the first US company to cross the $1-trillion mark in 2018.
In the Wearables business, the analyst expects growth to $60 billion owing to the expansion of AirPods and Apple Watch. The Services business could grow to $100 billion in the next four years.
The analyst expects Apple to continue aggressively buying back stock.
As iPhones sale dip amid supply and demand uncertainties, Services segment is following a different trend for Apple, with strong year-over-year growth of 17 per cent and setting a new all-time revenue record of $13.3 billion in the company’s March quarter results this year.
The company saw all-time records in many of its Services categories – App Store, Apple Music, Video, cloud services, its App Store search ad business, AppleCare, Apple TV Plus, Apple Arcade, Apple News Plus and Apple Card.