Apple likely to become the world’s first $1 trillion company

Ben Travis
MIlestone: Apple is expected to become the world's first $1 trillion company in 2018: JOSH EDELSON/AFP/Getty

Apple is close to becoming the world’s first company valued at $1 trillion – and it could hit the milestone later in 2018.

The trillion dollar landmark is expected to be reached this year according to analysts, and the Californian tech giant is the closest at the moment.

Apple’s current value comes in at $869 billion.

Hot on Apple’s heels is Alphabet, the parent company of Google, which has a market value of $729 billion.

Also in the running to become the world’s first ever $1 trillion company are Microsoft ($659 billion), Amazon ($563 billion), and Facebook ($514 billion).

Financial publication Barron’s has predicted that Apple will reach the landmark in 2018 “because of its changing investor appeal”.

Wall Street bank Morgan Stanley backed Apple to become the first trillion dollar company last year after the company unveiled the iPhone 8 and iPhone X, the latter being its most expensive smartphone ever.

“The company escapes the typical trend of declining prices that drives demand for other devices,” said analyst Katy Huberty.

“In fact, demand for the iPhone is directly correlated to the direction of average selling prices — higher prices, higher demand and vice versa.”

Apple is launching its HomePod smart speaker, a rival to Amazon Echo and Google Home, later this year. It's also said to be working on an AR headset as its next major tech hardware innovation.