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Apple might reach trillion dollar market cap within a year, says analyst

Apple is gearing towards the release of its next batch of iPhones, but this particular one is special, not in small part due to the presence of the iPhone 8 - potentially dubbed iPhone Edition. The Cupertino giant got close to a $720B market cap value earlier this year, and according to a Wall Street analyst, the firm could reach or indeed break through the $1 trillion market cap value in the next 12 months.

In a report obtained by MacRumors, analyst Brian White calls Apple "among the most underappreciated stocks in the world", and cites the upcoming release of the iPhone 8 as a catalyst for the company's eventual $1 trillion market valuation. White says:

Similar to the bottoming process in Apple during the summer of 2013 that drove a strong rally into the spring of 2015, we believe the bottom in the stock during May 2016 and the upcoming iPhone cycle is setting up Apple to reach our $202.00 price target over the next 12 months.

Apple currently has a market cap of about $737B, and considering the reasonably noticeable changes it plans to make to the anniversary edition of the iPhone, this prediction might not be too far off.

Source: MacRumors

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