Apple could soon turn out to be the first $1 trillion company, according to the analyst firm FBR & Co. While talking on CNBC’s “Fast Money,” FBR analysts claimed that the iPhone company’s stock will outperform the market and have given it a price target of $185, the highest among Wall Street analysts.
Software a “crown jewel” for Apple
Dan Ives and James Moore of FBR cited various reasons for their strong bullish opinion of Apple. One of them is Apple’s software, dubbed the “crown jewel,” which is expected to be instrumental in driving the iPhone maker’s market cap to $1 trillion. Moreover, as mobile phone hardware becomes more widely available, the software business will majorly contribute to Apple’s revenues, stated the analysts.
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