Will Apple Be A $1-Trillion Company?
Tech giant Apple is poised to become the first $1-trillion company, according to many Wall Street observers. For the first time, its stock price overtook that of another tech giant Google.
Topeka Capital Markets’ Brian White forecasted that Apple’s stock price may breach the US$1,000 mark within the year. Another industry analyst was more modest, saying Apple can reach that milestone by 2014.
But Apple surpassing Google’s stock price is real. Last week, one Apple share is worth US$633.38. This was a big jump from last year’s price at US$341.
It is apparent that Apple founder Steve Job’s demise hasn’t negatively affected Apple’s future. Despite apprehensions from industry observers, Apple’s star continues to rise, thanks to Apple chief executive Tim Cook.
Last year, Apple posted record sales with 37 million iPhones and 15.5 million iPads sold at the end of 2011. In the same year, the company also posted double profits to US$13.06 billion.
Apple’s influence is also expected to reach at least 10 percent of China’s high-end subscriber base, thanks to its partnership with China Unicorn.
If Apple really want to dominate the tech world, White said it has to venture into and launch a new product—the television. Although the rumor mill has been buzzing around that Apple has always been interested in the TV market, no concrete details have been released to the media.
There are clues, however, to support this prediction with Apple manufacturer Foxconn buying 11 percent stake in Sharp Corp.’s LCD display maker. Apple also has an existing TV called Apple TV although this hasn’t been as successful compared to other Apple devices.