Prediction: Even With the $1,999 Price Tag, Apple's Foldable iPhone Duo Will Be a Hit and Apple Will Join Nvidia in the $5 Trillion Club.
Apple is on track to do something great that it hasn't done since 2012.
Overview
Apple's (NASDAQ: AAPL) new iPhones are here, and this could be just the ticket to get the consumer tech titan back on top of the market cap throne. It doesn't have far to go to get there.
The stock's recent gains now place it within 2% of hitting a market cap of $5 trillion. Perhaps even more intriguingly, Apple is now less than 10% away from overtaking Nvidia (NASDAQ: NVDA) to become the market's most valuable company by market capitalization.
Details
Apple's business isn't growing as quickly as Nvidia's these days, but it is closing the gap in market cap. Nvidia investors can't feel too bad, with the stock up 26% over the past year. It's just that Apple stock has soared by more than 40% in that time. Momentum is on its side, and that's before a bar-raising device hits the market.
Source
Originally published at www.fool.com.