Today, the shares in Apple have achieved a record high as the company goes near a valuation of $1 trillion.
The results that were released last night for the third quarter of the company exceeded the expectations of analysts, with the hopes of three new iPhones and an outstanding September profit that convinced its investors of sustained growth for the tech giant that is based in Cupertino.
The share price of Apple is up by 5.3 percent at around 4 in the afternoon today, at $200.43. However, it must go above $203, approximately an increase of seven percent, s that it will be able to break past the trillion-dollar market capitalisation.
In case it achieves to break past the said mark, Apple will be the first company in the United States to do so, even though its fellow FAANGs are also hot on its heels.
The revenues for the fourth quarter of the company are forecasted between the range of $60 billion and $62 billion. According to Thomson Reuter, the figures surpass the $59.6 billion that the analysts had predicted.
It is expected that the company will be releasing the second edition of its best-selling iPhone X, as well as a bigger version which will come in the form of an iPhone X Plus, and a budget-friendly version, the iPhone 9.
Some rumours also say that the iPhone X Plus will include a support for dual SIM technology, as the iOS 12 beta code revealed some phrases that are hinting at a second SIM tray.
The analysts also expect that the company will soon launch a video service, which could take on the leading streaming services such as Amazon’s Prime and Netflix.
During an earnings conference call last night, Tim Cook, the chief executive of Apple, hinted at a content project that will be run by two prominent television executives that were hired from Sony.
The company has satisfied its investors with a record number of buybacks this year. It surpassed $20 billion throughout the June quarter to bring its tally up to $43 billion. As a reference, that is considered to be more than the total valuation of 75 percent of companies that are included in the S&P 500 index.