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Apple Market Tops $800 Bn For The First Time In The Market
Apple Inc., became the first company to top the $ 800 billion mark in market capitalization yesterday. With this, the company became the world’s most valuable public company.
According to the latest quarterly reports, Apple shares surpassed a price of $ 153.44 a share and with Apple’s 5.214 billion shares, the company makes its total market capitalization worth $ 800 billion for the first time.
One of the successful investors in the world Warren Buffet also praised the company calling the iPhone “a very very very valuable product in the world.”
The iPhone maker’s shares have gained 33 percent this year and as much as 50 percent since the US elections in November.
Brian White, a Drexel Hamilton analyst, released Apple’s highest price target on Wall Street on Monday, which at a $ 202 a share would help Apple reach the $1 trillion mark this year.
He also added saying: “What we’re starting to see here are dark clouds around this valuation of Apple, which has been with the company for several years, starting to part ways and our numbers are actually pretty conservative going into what I think will be a big cycle”
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