What you need to know
- Apple is on course to break the $2.5 trillion market cap threshold on Thursday.
- The company is right on the brink at $2.49 trillion, and shares are up in pre-market trading.
Apple could become the first publicly-traded company to break the $2.5 trillion market cap threshold when markets open on Thursday.
The company made strong gains Wednesday, closing at $149.15, up 2.41% on the day, a new all-time high record. The price means Apple is also teetering on a market cap valuation of 2.49 trillion. AAPL is already up around 0.4% in pre-market trading, indicating the company is likely to pass the $2.5T valuation threshold today.
Apple's record-breaking July continues, having posted three all-time high share prices this month already, from a Wednesday report:
Apple's share price continues to barrel towards the $150 mark, after closing at another record high price of $145.64 on Tuesday, the third such record this month.
Apple will hold its Q3 earnings call on July 27 in just under two weeks, where it will announce its financial results from the most recent quarter. As previously noted, Apple has told investors that it expects to post strong double-digit growth year on year, but a more pronounced sequential dip thanks to the delayed launch of the iPhone 12. Recent reports claim Apple could sell 226 million iPhones in 2022 thanks to iPhone 13.
JP Morgan's Samik Chatterjee recently raised their Apple share target price from $170 to $175, citing strong recent outlooks for both the Mac and the iPhone.