Apple’s Market Cap Briefly Passes $900 Billion
- Stock gains as much as 3.7% after record holiday outlook
- The $999 iPhone X went on sale around the world Friday
IPhone X Demand Sends Apple Value Past $900 Billion
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Apple Inc. briefly became the U.S.’s first $900 billion company on the day its stores around the world were inundated with customers trying to get their hands on the new iPhone X.
Demand for the handset, which boasts a facial recognition system, an edge-to-edge display, and a price tag starting at $999, has prompted Apple to predict record sales of at least $84 billion in the Christmas quarter. The shares gained as much as 3.7 percent to $174.26, briefly tipping Apple’s market capitalization above $900 billion. They were up 2.1 percent at 9:55 a.m. in New York.