New iPhone 8 making Apple world's first trillion dollar tech company

It's wondering! Latest iPhone 8 making Apple world's first trillion dollar tech company. It's gonna be world record.

#Apple #iPhone8

The upcoming flagship device iPhone 8 could make the Cupertino-based giant the first company to reach and sustain a $1 trillion market cap, analysts have predicted.

According to a report in MarketWatch late on Wednesday, since the announcement of its third quarter results, the stock momentum has added $56 billion to the company's market cap.

Analysts from investment service company RBC Capital predicted that the stock momentum will continue as Apple will launch its flagship device iPhone 8 in mid-September.

RBC analysts said the iPhone 8 launch will create a 'super cycle' for the company.

"Apple has potential to achieve a $1 trillion dollar market cap and even surpass that over the next 12 to 18 months. We see upside occurring from multiple levers," Amit Daryanani, lead analyst on the note, was quoted as saying.

Those "levers" to get to $12 per share in profit are revenue increasing from new iPhone models, including a higher-priced premium model, growing services revenue helping to expand profit margins, tighter cost control and strong stock buybacks, the analyst said.