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Apple on course to become world’s first trillion dollar company

Apple will soon become the world’s first trillion dollar company according to industry analysts.

Brian White of investment firm Cantor Fitzgerald believes that within 12 months, the tech giant’s market capitalisation will pass the landmark figure.

Read more: UK public remains unconvinced about Apple Watch and other wearables

The prediction largely hinges on the upcoming release of the Apple Watch, which White believes could see the company’s share price increase from $127 to a staggering $180. Other factors, like the iPhone’s increasing success in China and rumours of an Apple Car are also being linked to the huge valuation.

“Next month, Apple will enter its first new product category in five years, while media reports over the past several weeks have highlighted potential new areas of future innovation,” White added. “Also, we believe Apple’s iPhone portfolio and position in China have never been stronger. Finally, Apple has shown its commitment to returning cash to shareholders, and we expect more in April. We believe the combination of these forces will drive the market to reward Apple’s stock.”

Brian White’s $180 12-month price target is some way ahead of the next nearest estimate of $160, and obviously there are no guarantees when it comes to stocks and shares. Apple’s current valuation of $744 billion already marks it as the world’s largest firm and is more than twice the size of its nearest competitor Exxon Mobil.

Although wearables have not achieved major consumer success as of yet, the Apple Watch is expected to invigorate the market and the Cupertino-based firm is expecting to sell 5 million units during the launch period alone.

Read more: Are there enough Apple Watches? Stock shortages likely

Apple product launches have become huge global events, so it would take a brave man to bet against the Apple Watch being a success. The iPad sold 14.8 million units in its first nine months, doubling Wall Street’s most optimistic predictions. If the Apple Watch can be nearly a successful, there’s no reason why Apple couldn’t become the world’s first trillion dollar company.