According to analyst Brain White, of Topeka Capital Markets, predictions, Apple’s share price could soon hit $1,000 a pop, marking China and Apple TV as key areas of growth for the company. He predicts that this huge milestone could hit in as little as 12 months, becoming the world’s first trillion-dollar company. As reports the Guardian.
If that wasn’t headline grabbing enough, Apple’s current share price overtook that of Internet super-power Google last week for the first time, standing at $633.38 per share. Apple is currently valued at $590.82 billion (£372bn), making it the most valuable company in the World. The hike up to $1,000 per share would see the companies value spike at a huge $1 trillion-dollars.
What will push the Cupertino company to this impressive milestone? It is thought the companies presence in China and its foray into the world of Television will be important factors.
January saw the launch of the iPhone 4S in China and caused a near riot in Beijing, with nearly 2,000 eager customers growing tired of the wait to purchase the device. Although China is not currently a big market for Apple, Morgan Stanley analyst Katy Huberty has predicted that this is going to change and Apple could sell up to 40 million iPhones in the region this year alone.
Apple is currently working hard on deals with the countries three main operators to create an arrangement. Katy Huberty noted China has over 150 million “high-end subscribers”, of which Apple only has access to around 10% through its partnership with China Unicom.
Apple is known for taking on a market and disrupting it into advancement, such as it has done with the smartphone and music industry. Next on its list could be television. The company already has a set-top box called Apple TV and Apple manufacturer Foxconn has further aroused rumours with its purchase of an 11% stake in Sharp Corp., the LCD display maker.
Tim Cook, Apple CEO, recently commented regarding Apple TV; “Apple doesn’t do hobbies as a general rule,” continuing that Apple “always thought there was something there, and if we kept following our intuition and kept pulling that string, we might find something larger”.
If Apple is to reach that $1,000 share price mark it may be a new product like an Apple TV and success in China that pushes it beyond the brink.
What do you think about the idea of a TV from Apple? Would you buy one? Let us know in the comments below.