Apple Blows Off Market Cap of $900 Billion

Apple Blows Off Market Cap of $900 Billion

Apple Blows Off Market Cap of 900 Billion

As Apple and Amazon continue to race towards a $1 trillion valuation, Apple is soaring ahead. Apple’s recent leap was powered by a great fourth quarter that helped stocks soar and the company’s market valuation briefly hit $900 billion.

After a huge year thus far, Apple is looking to spark a new wave of consumers to buy the iPhone X and its accompanying products, the AirPods, iPad or HomePod, to get the most use out of it. In its Q4 reports, the company said that 62 percent of its revenue came from international sales. The company witnessed a 12 percent jump in revenue year-over-year in China and hit nearly $10 billion in revenue.

Larry McDonald, head of U.S. macro strategies at ACG Analytics, believes the stock leaped too fast ahead of the latest earnings report. “You’re talking about a company with a market capitalization of $865 billion that’s trading close to 15 percent above its 200-day moving average,” he said Thursday on CNBC’s “Power Lunch.” “That is something you don’t just want to walk away from, [you want to run away]. It’s a screaming sell.”

Miller Tabak equity strategist Matt Maley, however, says “higher highs, higher lows” in the stock’s chart makes it look attractive. “One thing I had been concerned about is every time the stock rallied, they did so on lower volume and sold off on bigger volume,” he said on “Power Lunch.” He went on to say, “However, the more recent rally [saw a break of about 5 percent] that has come on a pickup of volume, which should be good. ”

During Thursday’s close of a share price of $168.11, the company was valued at $868 billion. On Friday after the release of the Q4 reports, the stocks surged about 4%.

“We see iPhone X unlocking pent-up iPhone upgrades, especially in China, driving more than 20 percent iPhone unit growth and a revenue and earnings beat in 2018,” analyst Katy Huberty of Morgan Stanley said.

Apple said it sold 46.7 million iPhones in the Q4, which beat analysts’ estimates of 46.4 million, according to financial data and analytics firm FactSet. Mac and iPad sales too were above the estimates of most analysts.

The world could soon see its first ever trillion dollar company. Whether it is Apple or Amazon is what everyone is on the lookout for.

Megha Shah
Megha Shah
A dreamer, traveler, aspiring entrepreneur and a bookworm beyond repair, Megha Shah is extremely fond of writing and has been doing so since she was a child. Apart from being a part-time writer, Megha is currently in college, pursuing B. Com. (Hons). Megha is an ardent follower of ‘Hardship, Hustle and Heart’ and firmly believes in the power of hard work and destiny!

Leave a Reply

Want to stay up-to-date with news and information from

Subscribe Now

This website uses cookies to ensure you get the best experience on our website. Privacy Policy