TECH WATCH: Apple’s Market Cap Tops 800 Billion For First Time

Apple‘s stock continues to hit new highs — and on Monday, investors pushed Apple’s total market value to over $800 billion.

Apple shares briefly surpassed a price of $153.44 a share, and withApple’s 5.214 billion shares outstanding, according to its latest quarterly report, that makes its total market capitalization just over $800 billion.

FLASHBACK: APPLE HITS MARKET CAP OF $700 BILLION TWO YEARS AGO

Shares hit a high of $153.70 on Monday, before closing at $153 a share, up 2.7 percent.

The iPhone maker reported mixed quarterly earnings last week, selling fewer phones than expected, though at more expensive prices. But chief executive Tim Cook attributed some of the slowdown to the fact that consumers are holding out for the next launch, anticipated in September.

Wall Street seems to agree — analysts have upped the stock’s 12-month price target nearly 30 times so far this May, according to FactSet. Drexel Hamilton analyst Brian White released Apple’s highest price target on the Street on Monday, which at $202 a share would put Apple over the $1 trillion mark this year.

apple market cap
Apple’s Climb To 800 Billion

 

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