After a big drop in 2018 and a furious rally to start 2019, Apple is once again closing on a $1 trillion market value. Apple’s earnings report could be the catalyst that puts it back over the top.
Apple first hit $1 trillion in market value last August. The milestone came with great fanfare. Apple spent the next couple months in the trillion territory, but then things got ugly. The company shed nearly $400 billion during a precipitous fall, inspired by worries about iPhone demand.But after a furious rally—Apple stock is up 27% in 2019—the company is once again closing in on $1 trillion.
A better-than-expected report could spark a big move for the stock. As of Apple’s last disclosed share count—4.715 billion—Apple would have to hit $212 per share to retake $1 trillion. In its December quarter, Apple bought back 38 million shares. A similar pattern would push the $1 trillion threshold to more like $214 a share.
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