(This story has been corrected to reflect that Apple has not surpassed HP in annual revenue and updated with additional market cap data)
Goldman Sachs recently boosted its share price target to $550 per share. Other analysts, such as Barclays Capital and Piper Jaffray have even higher price targets, $555 and $607, respectively. Using Goldman's $550 share price target, Apple's market capitalization would be just over $512 billion.
Apple's growth is clearly accelerating, having reached various market cap milestones over a short period of time.When Steve Jobs returned to the company, it took nearly 10 years for the company to close a quarter over $100 billion in market cap, doing so in the June 2007 quarter, according to Bloomberg. Due to the recession, Apple did not reach $200 billion in market cap until second quarter 2010, 11 quarters later. It took Apple four quarters to finally stay over $300 billion in market cap, having first reached it in January 2011. It has taken three quarters for the firm to reach $400 billion. Apple may very well reach $500 billion in market cap later this year, if past trends hold. The tech giant's stock hit another all-time high shortly after market open on Thursday, reaching $431.37, surpassing Wednesday's previous all-time high. Apple's market cap was at $400.2 billion on Thursday.
|Apple surpassed $400 billion in market cap.|
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV