This is What Apple Needs to Reach a $1 Trillion Market Cap
Investing.com – Apple (NASDAQ:AAPL) released its adjusted share count on Wednesday, revealing the share price it needs to hit $1 trillion in market capitalization.
The technology giant has an adjusted outstanding share count of 4,829,926,000 as of July 20, the firm announced in its 10Q, after reporting its third-quarter results on Tuesday.
Shares of Apple need to reach $207.05 for the firm to reach the $1 trillion mark, or about 2.75%. The company closed at $201.50 on Wednesday and was down 0.60% to $200.30 in pre-market trading as of 5:17 AM ET (9:17 GMT).
Apple is already the largest company by market cap and tops Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOGL), Microsoft (NASDAQ:MSFT), Facebook (NASDAQ:FB), and Berkshire Hathaway (NYSE:BRKa).
Shares of Apple surged on Wednesday after a stronger than expected quarterly report, driven by software and services revenue and higher iPhone prices. Apple reported revenue of $53.3 billion and profits of $2.34 per share, compared with analyst estimates of $52.3 billion and $2.16 per share, respectively.
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