Apple just became the first American public company to cross $1 trillion in value.
Shares surged after Apple reported earnings that topped forecasts and a healthy outlook on Wednesday.
Even though some think Apple () needs a new product to keep sales and profits booming, Apple has rallied past the trillion level thanks to solid sales of the iPhone 8 and X — particularly in China and Japan — and surging services revenue from the App Store.
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Wall Street thinks Apple could go even higher. Thirteen analysts have a price target of above $225 for Apple. The most bullish, Brian White of Monness, Crespi, Hardt & Co., has a price target of $275 a share. That would value Apple at $1.3 trillion.
Apple is benefiting from investor euphoria surrounding the tech sector broadly as well — and it could soon have company in the trillion dollar club.
Amazon (), Google owner Alphabet ( ) and Microsoft ( ) have all rallied to near record highs this year, too. Amazon is worth nearly $900 billion while Google and Microsoft are each now worth more than $800 billion.
Apple is not the first publicly traded company in the world to surpass the trillion dollar mark though.