Apple Inc. (NASDAQ:AAPL) became the first American firm to cross the $800 billion market capitalization barrier. The iPhone maker’s stock rose 1% on Tuesday to nearly $154, giving the company the market value of around $803 billion. The stock is up nearly 33% so far this year.
Investors are bullish on Apple as the tech behemoth is preparing to launch three new iPhone this years. According to rumors, the tech giant will release a premium handset with a radical design to celebrate the 10th anniversary of the iPhone.
The 5.8-inch iPhone is expected to feature an edge-to-edge OLED display. Tentatively dubbed the iPhone 8, the flagship phone is also rumored to come with a long-distance wireless charging and a revolutionary front-facing 3D camera. The tech giant might embed key components— including the FaceTime camera—within the display.
Apple Inc. (NASDAQ:AAPL) is reportedly testing multiple iPhone devices and it has yet to finalize an “iPhone Edition” that would debut alongside “iPhone 7s” and “iPhone 7s Plus” handsets in September.
Analysts believe that the company’s new handsets will drive the “biggest refresh cycle” since the iPhone 6 in 2014.
The iPhone 8 is expected to be offered at $1,000.
Apple Q2 Financial Results
Earlier this month, Apple reported financial results for its fiscal 2017 second quarter ended April 1.
Despite a decline in the iPhone sales, the company’s quarterly revenue rose to $52.9 billion from $50.6 billion a year ago. Its EPS was $2.10, versus $1.90 per share in the year-ago quarter.
The iPhone maker increased share repurchase authorization to $210 billion from $175 billion and approved a 10.5% increase in its quarterly dividend to $0.63 per share. The tech giant said that it has returned more than $211 billion to shareholders, including $151 billion in share repurchases, from August 2012 through March 2017.
Shares of Apple Inc. (NASDAQ:AAPL) were trading down 0.95% in the morning trading session.