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Analyst sees iPhone 8 turning Apple into the first trillion dollar company

The most valuable company in the world right now is Apple. Thanks to the success of the Apple iPhone, the company is currently valued at almost $752 billion. According to an analyst at Drexel Hamilton by the name of Brian White, Apple will be the first company in history to be valued at one trillion dollars, The impetus behind this powerful move higher will be the introduction of the 10th anniversary iPhone model currently dubbed the Apple iPhone 8, according to White.

As hard as it is to believe, White notes that Apple is one of the most undervalued companies trading in the U.S. markets. As an example, White points to Apple's 16:9 ratio. No folks, that is not the 16:9 aspect ratio of the iPhone's screen. That is the company's Price-Earnings ratio which means that for every $1 per share in net earnings, Apple's stock price is worth $16.90. Similar companies are more expensive. Firms like Google (31), Amazon (183), and Microsoft (30) are trading at rates nearly twice as expensive as Apple's PE ratio.

White says that Apple made a bottom last May and he predicts it will reach $202 over the next 12 months. With 5.4 billion shares outstanding, Apple needs to hit $185 in order to reach the magical $1 trillion mark. And with a new premium priced iPhone on the way along with the Apple Home Pod launching in December, there is a very good chance that investors will respond favorably enough to these devices that before the end of this year, the company will have a valuation that starts with a "T" for trillion.

source: BGR

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