Apple continues its growth. Despite criticisms about its products, Apple is growing as there are still many people who look up to the tech giant. Apple just might become the first $1 trillion company, ahead of fellow competitors Alphabet, Amazon and Facebook.
This is the view of some analysts, as they predict that 2018 will be a strong year for Apple as its share prices continue to climb up. If the trend continues this year, it will be the first company to hit the $1 trillion mark.
It looks like it is on its way to do just that. Currently its market valuation is at $869 billion, well on its way then to hit the $1 trillion mark if the trend continues for this year.
The race to £1 Trillion
Barron’s, the U.S. investment magazine, has said that the company will hit that mark within this year, and it hasn’t shown Apple’s rise to that peak yet. Analysts agree on this sentiment.
“You have to go back to Rockefeller and Standard Oil to find a company so dominant in a business so large,” David Rolfe, Chief Investment Officer, Wedgewood Partners.
George Salmon sees the market trend to continue that at some point one of the tech companies will hit the $1 trillion mark this year. He sees Apple to be in the position to do just that.
Salmon does see contenders such as Facebook, Google and Amazon to be making that mark as well, as many investors are increasingly attracted towards them. Ian Forrest, who is an investment research analyst at Share Centre, has said that it is inevitable that one of the tech companies will break through that mark.
With many tech companies making it big as tech itself continues to grow, it would only mean more growth in the industry. Do you think Apple can make it, or would another company such as Amazon be likely to get there first? Let us know in the comments below.
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