RBC: Trillion-Dollar Valuation Not Far For Apple Inc. (AAPL)

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RBC: Trillion-Dollar Valuation Not Far For Apple Inc. (AAPL)
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The upcoming iPhone 8 and the upgrade supercycle will help lift Apple Inc. (AAPL) to a trillion-dollar valuation by 2019, RBC Capital Markets analyst Amit Daryanani believes. In a research note on Monday, Daryanani noted that the iPhone maker could hit a trillion dollar valuation within the next 12 to 18 months, according to MacRumors.

How much will the iPhone 8 help toward a trillion-dollar valuation?

For the first time, Apple Inc. (AAPL)’s market cap crossed the $800 billion mark earlier this month. RBC analysts raised their price target for the stock from $157 to $168.

“In aggregate, we see a scenario where in the 2019 fiscal year, Apple Inc. (AAPL) sustains $12+ earnings per share and, assuming the valuation frameworks remains stable/improves, it should get AAPL stock toward $192–$195, which would equate to a market cap above $1 trillion,” the analyst stated.

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