Apple could be first company to reach a $1 trillion market cap, analysts say

Apple Inc. is poised to become the first company to reach and even sustain a $1 trillion market cap, RBC Capital analysts said Wednesday.

Apple’s AAPL, -0.40% stock has been soaring since it reported better-than-expected third-quarter earnings on August 1, while also assuaging some fears about an overreliance on iPhone sales, thanks to a surprise upsurge in iPad sales. That stock momentum has added $56 billion to the company’s market cap as of Tuesday, and RBC analysts are expecting it to continue as Apple heads into the launch of its expected iPhone 8 cycle in mid-September.

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