Upcoming $1000 iPhone 8 may help Apple’s value touch $900 billion – Google’s parent company, Alphabet, is currently the second most valuable company at $653 billion, followed by Microsoft at $532 billion!
Apple is expected to unveil its first $1,000 iPhone in September which could drive its market capitalization to nearly $900 billion.
According to a report by MarketWatch, Apple is trading at all-time highs, but there are hopes for the stock to go substantially higher, if consumers are willing to spend substantially more for an iPhone. Recently, Apple became the first US Company to top the $800 billion (nearly Rs 53.22 lakh crore) mark in market capitalization, slightly more than two years after it crossed the $700 billion (nearly Rs 46.56 lakh crore) threshold.
The iPhone maker’s shares have gained 33 percent this year and almost 50 percent since the US election in November. The company represents about 4 percent of the $21.7 trillion (nearly Rs 144.36 lakh crore). The report stated that Goldman analyst Simona Jankowski reiterated a buy rating in a note to clients, and pushed his target to $170 from $164, which implies upside of more than 10 percent from the closing price and would give Apple a market capitalization of nearly $900 billion. Currently, Apple is valued around $800 billion, with Google’s parent company, Alphabet, the second most valuable company at $653 billion, followed by Microsoft at $532 billion.
It is believed that the upcoming iPhone will feature a glass back with a 2.5D curved glass and a vertical dual camera setup. There is no Home button present on the front and the bezels are barely visible. Geskin stated that these images are CNC dummy models from Foxconn.
According to a report from Nikkei, Apple has also placed an order for 70 million displays from Samsung for use in the iPhone 8. This will be the first time that Apple will adopt a curved OLED screen for its iPhones. Samsung is also said to be the sole supplier of OLED panels for the next iPhone due to having the “most advanced” technology in the field. These new iPhones will most likely be waterproof and have wireless charging.
During the first quarter of 2017, the Apple iPhone 7 was titled as the best-selling smartphone, according to data from Strategy Analytics. Apple reportedly shipped 21.5 million units and captured 6 percent market share worldwide in Q1 2017. Apple iPhone 7 Plus, with its bigger screen and higher pricing, shipped 17.4 million units for second place and 5 percent market share worldwide in Q1 2017. Apple today accounts for two of the world’s top five smartphone models.