Apple Inc. (NASDAQ: AAPL) is expected to become the first company ever to reach $1 trillion in market cap, according to the note by RBC Capital analysts published on Wednesday.
After publishing last week its highly optimistic guidance for its third quarter and on the expectations of the 10th anniversary iPhone launch in mid-September, the company has gained $56 billion in market value.
It brings its current market value up to $826.85 billion.
Historically, according to RBC Capital, Apple's stock price has a median return rate of 15.6% in the 90 days prior to a new product cycle launch.
So analysts believe that it is more than probable that Apple Inc. will reach the pike of 1 trillion in market cap already within this year. They even forecast that it may hit $2 trillion market cap by the year 2027.
Apple stock is up 0.25% midday Wednesday. It has already gone up 38% to $160.49 per share his year.