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Apple Briefly reached the $900bn market value

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On the day Apple store launched the new iPhone X all around the world,  Apple briefly became the first United State’s US$900 billion company due to inundated customer trying to get the new iPhone X.

The new Apple iPhone which has an edge to edge display, and facial recognition system put the iPhone on a high demand by its customers, this has prompted Apple to predict a record sales of at least $84 billion in the Christmas quarter. The shares grew from 37% to $174.26 and they grew up 2.1% at 9.55 am in New York, which increased the Apple’s market capitalization above $900 billion.

“Apple is taking the iPhone franchise to a whole new level with the iPhone X, pushing the company deep into the ultra-luxury smartphone market with the highest priced iPhone in the company’s history,” Drexel Hamilton analyst Brian White wrote in a note to clients. “We believe Apple has attractive upside over the next 12 months.”

According to the Chief investment of Haverford Trust, Hank Smith who owns Apple shares said this at a Bloomberg Television interview, “It’s selling at less than the market multiple,” and he also said Apple has to convince its customers annually to buy a phone, unlike the other companies. “They have to sell millions of phones each year, so there’s always a chance those sales can come in late.”

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