Apple tipped to become the world's first $1 trillion company

PanARMENIAN.Net - Apple has been tipped to become the world's first $1 trillion company, according to Digital Spy.

Analysts at Cantor Fitzgerald predict that the launch of the Apple Watch and the firm's growth in China will see its market capitalisation reach the record figure.

Apple's market value currently sits at $750 billion, but Brian White and Isabel Zhu of Cantor have adjusted their price target for its shares from $160 to $180, putting it on course to break the $1 trillion barrier.

"Next month, Apple will enter its first new product category in five years, while media reports over the past several weeks have highlighted potential new areas of future innovation," said the analysts.

"Also, we believe Apple's iPhone portfolio and position in China have never been stronger."

Apple's valuation will apparently reach the milestone if the firm manages to sell 20.6 million Apple Watches within a year, and claim a 15 to 20% share of the Chinese mobile phone market within that time frame.

Cantor also tipped Apple to launch a connected television set following reports that it is working on a new online streaming service.