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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