Fidelity bank banner Bayelsa State banner
Apple on track to hit $1 trillion market capitalisation

By Barry Eitel and Corey Blackman on 04/11/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 679


Apple’s valuation briefly topped $900 billion for the first time Friday.

Shares of the tech giant were boosted by an impressive quarterly earnings report released a day earlier as well as the release of the highly anticipated new flagship iPhone X.

By midday trading, Apple’s market capitalisation had fallen to $892 billion, but analysts were excited by the prospect it could soon be the first American company to be worth more than $1 trillion.

The company’s value would have to increase about 11 percent to cross that threshold.

A Chinese energy company briefly topped $1 trillion in 2007.

Apple posted revenue of $52.6 billion, beating analyst forecasts of $50.7 billion in the fourth quarter, when it sold 46.7 million iPhones -- 3 percent more compared to the same period in 2016 and 600,000 more smartphones than analysts predicted.

Apple expects sales of the iPhone X, its most expensive version, to be strong through the holiday season.

As of Friday, shipment dates in the U.S. were five to six weeks in the future. Around the world, customers lined up early Friday outside Apple Stores to be among the first to own the new smartphone.

“The bottom line is that Apple is dominating high-end smartphones and associated services,” analyst firm Macquarie said in a note Friday.

“Our bullish view of [iPhone] X is driven by the fact it is the most innovative iPhone in years, and that the more limited innovation of iPhone 7 still led to 215 million phone sales.”

Shares of Apple grew more than 3 percent to an all-time high of $174.10 Friday morning. Several hours later, the stock was trading at $172.80.

For much of 2017, investors were concerned interest in new iPhones had waned and growth of the company had stalled – a narrative that Apple’s most recent earnings call proved false. (Anadolu Agency)

 

Source News Express

Posted 04/11/2017 5:31:02 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Intermodal transport system essential for port efficiency –...

ACTIVIST set for HUNGER STRIKE OVER ASUU STRIKE...

Obiano running a visionless government: Ojukwu

NNPC moves to recover missing $9.6 billion

Kiss & Tell: FEMI FANI-KAYODE UNDER FIRE OVER...

PDP receives over 1,000 APC defectors in Akwa...

Africa’s economy offers huge potential for cashless payment,...

CBN rubbishes report on Sanusi’s alleged girlfriend •Says...

Reps on retreat to rejig constitution

Kogi Massacre: Hold APC, Kogi Government responsible —...

Why I want to represent Anambra Central at...

Count us out of your probe unless you...

 

Latest News Dud Cheque: Court orders arrest of Senator Uzodinma APC reschedules presidential primary Schools shut in Anambra as flood disaster takes toll Sen. Dariye picks APC nomination form from prison Police Academy raises alarm over fake admission list Italian priest kidnapped in Niger APC must retain Osun, Buhari advises •Storms Osogbo with other party leaders to canvass votes for Oyetola Politicians in Borno recruiting armed thugs — NSCDC Artificial ripening of fruits causes cancer, liver, kidney diseases — Experts Flood: 30,000 persons displaced in Edo; 42 communities submerged Police warns against vandalism of campaign billboards Japanese billionaire set to be the pioneer tourist to the Moon

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (393,785 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (375,383 views) Shameless Genevieve Nnaji exposes breasts in public (306,849 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (249,595 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (231,078 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,057 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (199,079 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (180,700 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (164,769 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (162,852 views) Lagos plane crash: Journalist releases victims’ names (157,470 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (146,387 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (62) Business & Economy (3,605) Business Verdict (51) Columnists (927) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (546) Features (651) Global Business Monitor (299) International (2,402) Interview (164) Live Commentary (28) Love Matters (143) News (38,945) Opinion (1,103) Pidgin (11) Politics (6,618) Religion (866) Sports (1,693) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

I am Imo State's New Governor -- Okorocha's son-in-law Uche Nwosu...

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement