Apple Inc. has "multiple levers" that could propel the technology giant above $1 trillion in market capitalization in the next 12 to 18 months, said RBC Capital analyst Amit Daryanani. He raised his share-price target to $168, which is 9.8% above Friday's closing price, from $157 while reiterating his outperform rating. At Friday's close, Apple's market cap was $798.03 billion, according to FactSet. Among the potential upside catalysts, Daryanani sees potential for increased revenue growth and margin expansion, driven by higher average selling prices with the launch of a premium-priced iPhone 8 later this year. He said expanded share repurchases could reduce share count by 400 million to 500 million shares, which could boost earnings per share by $1.30 to $1.35. Share-count reduction could accelerate if tax-policy changes lead to repatriation of profits held overseas. Apple's stock rose 0.4% in premarket trade Monday. It has soared 32% in 2017, while the SPDR Technology Select Sector ETF has climbed 14% and the Dow Jones Industrial Average has gained 5.3%.
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