Apple Needs an 8.6% Rally to Reach $1 Trillion Milestone
(Bloomberg) -- Apple’s road to $1 trillion in market value is just 16 bucks away.
That’s how much each share of the iPhone maker needs to rise for Apple to reach a round-number market capitalization of $1 trillion.
Apple has risen for six consecutive sessions to reach $187.47 at 11:26 a.m. in New York, bringing its market cap to about $920.8 billion. To push that level to $1 trillion, each share outstanding -- there are about 4.9 billion of them -- needs to trade at $203.48, about 8.6 percent higher than where they are now.
Cupertino, California-based Apple is up 10.4 percent this year, compared with a 0.2 percent gain in the S&P 500.
Even if the rally to $1 trillion takes longer than a few days, Apple will still be the first U.S. company to mark the event once it does. The biggest U.S. peers are far behind: Amazon.com Inc. is $222 billion away from $1 trillion, while Google Inc.’s parent Alphabet is short $264 billion in market cap.
Apple hit the $500 billion mark on Feb. 29, 2012. Its run to becoming a $1 trillion company -- greater than the GDP of the Netherlands or Malaysia -- has taken more than six years.
©2018 Bloomberg L.P.