If you’re one of those people that puts an Apple sticker on the back of their car window, for some reason, this will probably warm your heart.
After reporting top notch fourth quarter earnings on Thursday, the world’s biggest tech company continued its push towards becoming the first $1 trillion company on Friday morning, briefly breaching the $900 billion market cap threshold. With shares of Apple stock jumping about 3 percent to a new all-time high of $173, the Menlo Park, California-based company is only about 10 percent away from hitting the mind-boggling landmark.
Wall Street was pleased to see Apple zoomed past its revenue estimates, with the tech giant hauling in $52.6 billion in sales — even without its new flagship device, the iPhone X, going on sale until Friday. But that’s another reason investors are betting big on Apple; with fanboys patiently waiting to get their hands on the sleek $999 smartphone, with its nifty facial recognition software and button-less display, Apple is expected to rake in the cash in the months ahead.
In the meantime, investors can hang their hat on Apple increasing its Watch customers by 50 percent for the third straight quarter, and record-breaking Mac sales. And if you put your grandma’s $200 Christmas check into Apple stock at the beginning of the year, congrats, because you’re up nearly 50 percent for the year.