Apple’s Market Cap Could Soon Reach $3 trillion According To Analysts

Apple Inc. stock (NASDAQ: AAPL) has soared in recent months. As I write this paragraph, shares have crossed $170,39 for almost a month for the first-ever time, during what is expected to be the sixth consecutive trading session of solid increases for Apple Inc.

Cupertino-based stock is approaching $3 trillion in value, which may surprise some given the ongoing economic and geopolitical uncertainty.

According to one analyst, there is a “bright green signal” for investors to buy shares in Apple. Shortly, AAPL’s market capitalization could reach $3 trillion.

Apple had 16.5 billion outstanding diluted shares at the end of its first quarter. However, if share retirements continue at the current pace, this amount will fall to $16.4billion in approximately a week.

Apple Inc.’s current market value (AAPL) stands at $2.77 billion. Therefore, apple’s stock must grow by approximately 8% to reach a market capitalization above $2.77 billion.

Apple’s stock prices had risen 12 percent since March 14, when they were at $150. If positive momentum continues, a $3 trillion market value is possible by the end of this quarter.

The earnings season could be a key driver for the market’s upward swing in the next few weeks. Apple’s fiscal Q2 numbers will be released in five weeks.

Apple could see gains of just one day to surpass the $3 trillion mark in market capitalization for the second consecutive time.

Despite this, Apple’s business appears to be doing well, and Cupertino Corporation may surprise analysts and investors in the coming quarter.