Apple’s New Trillion-Dollar Number for Stock Price Is $207.05
(Bloomberg) -- Holding your breath for Apple Inc. to break $1 trillion? There’s a new magic number to fixate on. And it’s less than 3 percent away.
As of Wednesday, the price that would crown the iPhone maker the first U.S. company to surpass the milestone is $207.0425 a share. Anything above that -- most likely, a trade at $207.05 -- and the wait is over.
The new number came by way of Apple’s quarterly 10Q filing, published Wednesday and listing 4,829,926,000 shares as of July 20. After several days in which the tally moved around as the count was updated, this one should hold.
Apple closed at $201.50 Wednesday, a record, after an earnings-inspired jump. So the Cupertino, California-based company would need to gain 2.75 percent to get over the 13-digit hump. It’s a single-day boost the company has pulled off 13 times this year.
Apple’s share total is a moving target, due mostly to buybacks. The company has repurchased so much stock in recent years that its share count has dropped by about a quarter since its 2012 peak.
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