Apple's Market Value Passes $800 Billion After 33% Rally

The rally in Apple Inc.’s shares that has accelerated in anticipation of an upgraded iPhone to be released later this year has pushed the company’s market capitalization past $800 billion for the first time. The shares, which have continued to gain even after Apple reported falling sales of its signature product last week, have jumped 33 percent this year, adding $185 billion in value. Drexel Hamilton this week raised its 12-month price target to a Street high $202, implying a market value of more than $1 trillion.

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