Apple's (AAPL) market cap sits at $734 billion, as its shares have passed an all-time high of $141. A number of analysts believe that figure will go to $160, or higher. Apple is likely to be worth three-quarters of $1 trillion within the next several weeks, if not days.
Apple has posted a better share price growth this year than any other component of the Dow, up 20.9%. The Dow is higher by 5.3% to 20,915.
Apple's shares have been driven recently more by rumor than hard numbers. Although the company's number for the last quarter were impressive, that information is nearly two months old. Apple set a record for iPhone sales, along with record numbers for most of its other hardware. Its forecast for the current quarter was good but not spectacular. It was certainly not enough to drive the stock up to present levels.
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The primary drive of Apple's advance has been speculation about its new iPhone 8, which is expected to be released in September. Recent versions of the iPhone have not been considered game-changing improvements over past ones. Also, they have not been considered strong competitors with the flagship products of rival Samsung.
Website MacRumors is among the best providers of information about Apple products. It recently published comments on the next generation iPhone:
Apple has a major iPhone redesign planned for 2017, with a glass body and edge-to-edge OLED display that includes an integrated Touch ID fingerprint sensor and front-facing camera. The new iPhone may be sold alongside upgraded (but standard) 4.7 and 5.5-inch iPhones.
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5.8" OLED display
Faster A11 processor
Camera and Touch ID integrated in display
No Home button
Three models - One OLED, two standard
It is not overly simplistic to say that if the iPhone 8 features do not live up to this and similar descriptions, Apple's stock may take a hit. However, if it appears the iPhone 8 has at least this set of features the stock has an excellent chance to gain more. And, of course, there is the issue of iPhone 8 sales.