A maelstrom of headlines hit the internet yesterday claiming Apple was the most valuable company in history now that its market cap hit $622 billion. While this may not be true once you adjust Microsoft’s 1999 record-setting value of $618.9 billion for inflation, the bigger question we should be asking is whether Apple will climb past $1 trillion.
According to a report in AppleInsider, analyst Brian White of Topeka Capital Markets believes Apple is only at the beginning of its climb and will march its way upward to surpass the $1 trillion mark. He points to Apple’s upcoming product launches and notes that the company has a lot of room to grow in its current markets. White points to recent IDC estimates, showing that Apple only controls 4.7 percent of the PC market and 64.4 percent of the mobile phone market.
Based on these observations, Topeka Capital Markets is sticking with its 12-month price target of $1,111.00 for Apple’s stock (AAPL).