Itâ€™s official, Appleâ€™s (NASDAQ:AAPL) market cap is worth a staggering $900 billion as of mid-day Wednesday putting the tech-giant on the path to become the first corporation to hit the $1 trillion mark.
The $175.30 per share price got Apple over the goal line for this latest milestone and the next key level to watch is $194.77.
Driving Appleâ€™s recent leg higher was the companyâ€™s expectation topping fourth quarter earnings, as well as its new product launches including the iPhone X which has been met with positive buzz heading into the key holiday selling season. Separately, the company is reportedly working on an innovative new product to follow the iPhone; an augmented-reality headset, which could ship by 2020, according to Bloomberg.
Earlier this month, CEO Tim Cook made his view on AR clear. â€œWe believe AR is going to change the way we use technology foreverâ€ he said on the companyâ€™s earnings conference call.
While Apple has long held the title of the worldâ€™s most valuable corporation, the stock has jumped 51% this year outpacing the double-digit gains for the Dow, S&P 500 and Nasdaq.
Plus, the company continues to maintain its cash war chest of around $268 billion as of the most recent earnings report, 94% of which sits outside of the United States.