Apple stocks rose slightly on Friday, but its market value is still very close to the $1 trillion mark that just broke through a day ago. However, Wall Street analysts expect the stock to have more room for growth.

After becoming the first US-listed company with a market capitalization of more than $1 trillion on Thursday, Apple rose 0.29% on Tuesday to close at $207.99, with an intraday low of $205.48 and a top of $208.74, around $10.07.0 billion. The dollar market value fluctuates up and down.

Daniel Morgan, investment portfolio manager at Atlanta’s Synovus Trust, believes that Apple’s stock price on Tuesday is only a rising relay, not a down sign.

“It’s like the horse rushed past the finish line and said, I’m exhausted,” Morgan said his company holds more than 200,000 shares of Apple. “The earnings released on Tuesday are solid, and all investors are concerned about 1 trillion. The US dollar, these two things have exhausted Apple’s current trading power. It was swallowed up by Apple this week.”

Even at a market value of $1 trillion, Apple’s stock price is still relatively low. Morgan said that the stock currently has a P/E ratio of lesser than 16 times for the next 12 months, and his relatively comfortable P/E ratio is 18 or 19 times.

“I think this is a reasonable level, so I don’t feel any risk. Although some people say that they have reached $1 trillion, they should step on the brakes. If Amazon or Netflix reaches $1 trillion, we may have a long-term plan.” He said.

Netflix currently has a P/E ratio of 93.8 times for the next 12 months and 83.74 times for Amazon.

“If Apple’s price-earnings ratio reaches 20 times, it is crazy,” he said. He estimates that Apple’s stock price can reach up to $220 before the end of the year.

Amazon, Microsoft, and Alphabet are all competing for the second US company title with a market capitalization of over $1 trillion.

Most seller analysts seem to think that $1 trillion is just a milestone for Apple’s continued rise. According to data compiled by Thomson Reuters, they gave a median target price of $218.50 and an average of $215.46.

The highest expectation came from Monness Crespi Hardt analyst Biran White, who gave a target price of $275, corresponding to a market capitalization of $1.3 trillion. He claims to be the first Wall Street analyst to provide apple with a $1 trillion valuation.

Despite a record market value, White said: “Apple is one of the lowest-rated stocks in the world today.”


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