How Long Will It Take Apple to Hit $1,000?

NEW YORK (TheStreet) - Apple(AAPL) shares hit $500 for the first time on Monday, but when will the consumer tech giant hit $1,000?

A share price of $1,000 would put the iPhone maker's market cap near $1 trillion, at approximately $970 billion. Even during the tech boom, high-flying stocks such as Qualcomm(QCOM) did not reach that level.

Boosted by its successes, the time it takes Apple to cross each $100 billion market cap threshold is growing shorter and shorter. It took Apple nearly 10 years to close a quarter with a market cap over $100 billion, reaching that level in June 2007 according to Bloomberg. Apple closed over $200 billion in the second quarter of 2010, $300 billion in January 2011, and achieved a $400 billion market cap three quarters later.

Apple's earnings have grown sharply since the company launched the first iPhone in 2007 and the iPad in 2010. In Apple's latest quarter, the company earned $13.87 per share on revenue of $46.33 billion.

With earnings and the share price seemingly growing like a weed, when do you think Apple will hit $1,000 per share?

How long do you think it will take Apple to reach $1000 per share?
	Six Months One Year Two Years Three Years or Longer Never

Interested in more on Apple? See TheStreet Ratings' report card for this stock.

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--Written by Chris Ciaccia in New York

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