Apple today posted its third quarter results, and the company’s massive growth continues unabated. Assuming this continues, it could become the first American company to be worth $1 trillion.
Based on the company’s report, the iPhone and Apple services represented the largest growth in revenue for the company. Overall, the company is currently worth $935.3 billion, and stock would only need to rise about 7 percent for it to hit the 12 zero milestone.
Since the company is planning to release a veritable smorgasbord of new iPhones soon, including a relatively cheap $550 model — assuming the rumors are true — it’s possible this year’s showing could be enough to put the company over that $1 trillion mark.
It’s worth noting part of the reason Apple seems to have gotten so close to the trillion is thanks to its exorbitantly expensive iPhone X. According to Variety, the phone has been consistently a best seller since launch. The iPhone represented the largest chunk of the company’s revenue by a large margin.
Other positive markers for the company include an uptick in iPad sales, which I might attribute to the cheaper, Chromebook competitor model currently available.