Apple valued at $800bn

Apple has been valued at $800 billion on the stock markets – making it the first company to cross this threshold.

The tech manufacturer only passed the $700 billion mark two years ago, but has seen its shares go up in value by 33 per cent during 2017.

In fact, Apple has performed consistently strongly on the markets since the US election, with shares going up by nearly 50 per cent since last November.

This means that if it continues on its current trajectory, the company could be worth more than $1 trillion by the end of this year.

Rick Meckler, president of LibertyView Capital Management, commented: “It’s just reflective of how powerful a franchise it is. It may be the most powerful franchise in the country today,

“Considering that it has a limited number of products, it has really dominated that market in a way that few companies have, and it’s been able to retain margins despite lots of competitors.”

Michael Underhill, chief investment officer of Capital Innovations, added that tech has been “leading the way” in recent months.

Speaking to the Financial Times, he said: “Apple has been the top banana in a crowded tech world with over $200 billion in cash, defensible market share and proprietary technology with leading platform for innovations.”

Forecasts of a further surge in the value of its shares are not necessarily unrealistic, given that Apple is gearing up to not only mark the tenth anniversary of its iPhone range, but also to unveil the latest iteration – the iPhone 8.

Details of the new device are widely expected to be released in September, with the product possibly hitting stores in October.

According to JPMorgan, the new handset will be bundled with Apple’s AirPods wireless headphones.ADNFCR-2155-ID-801835673-ADNFCR

Written by Mazuma

Mazuma Mobile is the UK's most trusted mobile phone recycling service.

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