An analyst believes the iPhone 5′s imminent launch may very well result in Apple becoming the world’s first one trillion dollar company.
Following the technology giant’s shares propelling Google’s shares for the first time a few months ago, it was only a matter of time for the world’s most valuable firm to become the world’s first trillion dollar company.
Topeka Capital Markets analyst Brian White said preliminary July sales from the company’s ‘Apple Monitor’ rose by 14 per cent month-over-month.
Suppliers for the iPhone 5′s components are now apparently working around the clock in order to meet Apple’s demands for the unannounced iOS device.
This July represents the strongest month-over-month sales growth of any July we have on record over the past eight years for the Apple Monitor. [It] was well above the 7% growth experienced last July, supporting our view of an earlier launch of the iPhone 5 versus the iPhone 4S last October.
With the iPhone 5 launch and “iPad Mini” on the horizon, along with the potential for an Apple TV in the coming quarters, we believe Apple’s stock is prepared for the next major leg up that could propel Apple to our $1,111 price target over the next year.
Apple is due to announce the iPhone 5 on September 12th, with the device itself rumored to be launching a week after that on September 21st.