Apple stamped its supremacy by becoming the first company whose market valuation has surpassed 800 billion. This makes it the most valuable public company after earnings. It is in this company that investor mughal Warren Buffet has a considerable stake who recently his company’s annual general meeting has praised the brand and said that he is always ready to invest in Apple, whenever there is an opportunity.
Drexel Hamilton said the company could hit the valuation of USD 1 trillion with its iPhone 8 launch. “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,” White told CNBC’s Fast Money:Half Time Report.
Apple shares briefly surpassed a price of $153.44 a share. Apple’s 5.214 billion shares outstanding, according to its quarterly report makes its total market capitalization just over $800 billion.
Shares hit a high of $153.70 on Monday, before closing at $153 a share, up 2.7 percent.
It is also to be noted here that Apple is planning to start its own manufacturing plant in India and is also rumoured to be selling its iPhone 5S as its starting level phone which is expected to be priced at Rs.15,000 and its iconic SE model at Rs.20,000 respectively.