Apple Inc. (AAPL) is already the world’s most valuable company, but it looks like the company is headed towards another mind-blowing milestone: Becoming the first trillion-dollar company ever. Starting last night, several analysts raised their target prices for AAPL—with Topeka Capital Markets going as high as $1,001.
This is just another sign that Apple is on a roll, and this train shows no signs of slowing down. According to CNBC, over half of U.S. householders own at least one Apple product. And, of the households that had made the switch to Apple, each owned an average of three Apple products! But, there’s little threat of Apple reaching brand saturation any time soon, because research has shown that the more products consumers owns, the more likely they are to upgrade or add new gadgets.
And, as cool as Apple’s latest line of iPads and iPhones is, there’s still plenty of room for innovation. Apple Inc. has only begun to dip its toes into the 4G wave, and its new Retina display trounces the resolution of any other handheld gadget on the market. Much of the tech community is buzzing about the prospects of a full-fledged Apple television set that could use cloud technology to redefine the T.V.
Now, I don’t want us to get too caught up in the frenzy, but I agree that AAPL remains a great buy even at its current $630 price tag. Apple Inc. continues to defy historical precedent, so you can bet that I will continue to keep tabs on this superstar stock.