Tags: Apple | 1 trillion | 2015 | value

NYT: Apple to Be a $1 Trillion Company by 2015

Monday, 24 Sep 2012 10:23 AM

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Technology giant Apple will become a $1 trillion company on April 9, 2015, at around 11:00 a.m. if it keeps growing on its current path, The New York Times reports, citing analyses from statisticians and investors.

The company is currently valued at $656 billion, and more aggressive forecasters see Apple becoming the first firm to be valued at $1 trillion as early as Aug. 16, 2013, as more and more people around the world line up to buy computers, iPhones, iPads and other products yet to be released.

“It’s hard to imagine Apple growing any faster than it has grown on both the release of the iPad and iPhone,” said Michael Driscoll, CEO of data and predictive analytics firm Metamarkets and one of the people betting Apple will top $1 trillion in 2015, The Times added.

Editor's Note: See the Disturbing Charts: 50% Unemployment, 90% Stock Market Crash, 100% Inflation

Apple has grown from a niche PC company to a music and cell-phone giant on top of the raging success the company has seen with its computers, laptops and tablets.

“They are certainly a different kind of company,” said Walter Piecyk, a wireless research analyst at BTIG Research, according to The Times.

Other companies, however, have soared and fizzled, Piecyk warned.

“So was Nokia in the late ‘90s. No one thought they’d ever be challenged, and look at where they are today.”

Apple recently released its iPhone 5, the company’s wildly popular cell phone, with sales topping 5 million units and leaving shelves empty.

“While we have sold out of our initial supply, stores continue to receive iPhone 5 shipments regularly and customers can continue to order online and receive an estimated delivery date,” Apple Chief Executive Tim Cook said in a statement, according to Reuters.

Apple shares on Monday fell 1.3 percent to end at $690.79.

Editor's Note: See the Disturbing Charts: 50% Unemployment, 90% Stock Market Crash, 100% Inflation

© 2014 Moneynews. All rights reserved.

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