Apple achieves the feat of becoming a trillion dollar company

Apple's valuation has crossed $1 trillion, thus becoming the first American public company to achieve it. The stock of Apple passed $207.04 a share and is at an all-time high of $208.38.

Apple is now up more than 20% this year. Apple on Wednesday reported earnings that topped forecasts, following which its shares surged.

Apple has rallied past the trillion level thanks to solid sales of the iPhone 8 and X - particularly in China and Japan - and surging services revenue from the App Store. Wall Street thinks Apple could go even higher. Thirteen analysts have a price target of above $225 per share for Apple. The most bullish, Brian White of Monness, Crespi, Hardt & Co., has a price target of $275 a share. That would value Apple at $1.3 trillion.

There has been a speculation in the market however that the iPhone maker should come up with a new product in order to keep up with sales and profits in a competitive market....Read More