Apple share price climbs towards trillion dollar valuation
Apple, the maker of iPhones, MacBooks and soon-to-be Apple watches, saw its share price tick up today, meaning it was edging that little closer to hitting the never-before-seen trillion dollar valuation.
Apple's share price fell as much as 0.9 per cent to 131.44 in early morning trade, before paring gains to 133.5. Yesterday, it closed at a new record high of $133 per share, pushing the tech giant's market valuation to $770bn.
This means the company is now worth more than the entire S&P 600 small-cap index, and thanks to a recent pull back by oil titan Exxon Mobil, it's valuation was more than double any other publicly listed US company.
Surging iPhone sales, upbeat earnings forecasts, a huge buyback and dividend programme, and excitement over upcoming launches of new products like the Apple Watch has lifted its share price this year.
Perhaps investor Carl Icahn, who said he thinks the company is already worth over $1 trillion, was right after all.
(Source: Yahoo Finance)