As shares of Apple repeatedly reach new all-time highs, major investors believe the trend could continue, propelling the iPhone maker to a massive market capitalization level of $1 trillion as soon as next year.
Apple "without a doubt" has a chance of reaching a $1 trillion market cap next year, Alexander Alternative Capital's Michael Corcelli said in an interview with Reuters. He expects Apple's march to $1 trillion will continue this holiday season, with record sales of the iPhone, iPad and other products.
Joining him was Steve Einhorn of Omega Advisors Inc., a $10 billion hedge fund. With shares currently trading around $114, Einhorn said AAPL is "attractively priced," and he sees the company reaching a trillion-dollar market cap "eventually."
As of Tuesday morning trading, Apple's market cap has been hovering around $670 billion. Up until last week, its previous record high was $658 billion, reached in September of 2012.
To put the market's value on Apple in perspective, Google currently has a market cap of around $366 billion, Microsoft is valued at $405 billion, Amazon at $151 billion, and Netflix is $23 billion.
Shares of Apple fluctuated around the $100 mark until mid-October when they began to rise after the company reported a record September quarter, earning $8.5 billion in profit on sales of 39 million iPhones and 5.5 million Macs. Investors are bullish on demand for the iPhone 6 and iPhone 6 Plus, and also have high hopes for the debut of the new Apple Watch in early 2015.