Apple’s market cap has hit a record high, surpassing $400 billion, according to market research firm Morningstar.
Apple shares rose almost 5 percent on Wednesday as investors sought to weigh in on the stock’s market value and potential IPO date.
The company has sold a record number of iPhones, and the iPhone 6s and iPhone 6 Plus are now the most valuable models in history.
The company has seen a rise in earnings due to its continued strong growth in the Mac business, which has seen sales grow from $5.4 billion in 2015 to more than $6.7 billion in 2017.
Apple has continued to drive profits for the company and has expanded its Mac and iPhone manufacturing operations to the US and Mexico, which are two markets Apple has not been able to access due to trade barriers.
The market is still a little bit high, but I think it will recover from the current low,” Mark Mahaney, a senior portfolio manager at Morningstar, told CNNMoney on Wednesday.
Mahaney said the company has been successful because of the strength of its Apple business, including its products, and its strong relationships with consumers.
However, Mahaney also noted that Apple stock could be headed for a long-term decline if Apple’s stock price continues to fall.
The stock price could fall, because there is not a lot of room for it to recover from a decline,” he said.
Mahaney said investors should not be overly concerned about Apple’s earnings because they are a relatively small percentage of the company’s market capitalization.
Mahane said the iPhone maker has seen revenue increase over the past two years and has managed to generate more profit than expected because of its focus on making products for the Mac and iOS operating systems.
The growth in sales has been driven by two trends: The iPhone 6 and iPhone 7 models have been popular with Apple customers, and Apple’s iWatch, which became the most popular smartwatch during the iPhone’s launch, has been highly popular with the iPhone audience.
Mahane said that the increase in sales is also an indication of the continued strength of the Mac sales business, and that Mac sales will continue to be profitable.
“Apple has continued its dominance in the PC market, and Mac sales have grown from $4.4B in 2015, to $6B in 2017,” he added.
“In order to stay in that lead, Apple has had to do a lot to improve the overall user experience.
In fact, Mac sales in the US have grown by only 0.4% over the last two years, which is significantly below what they would have experienced without the iWatch.”
Apple has not released its full financial results for the past year, but the company recently revealed its full fiscal 2017 earnings for the year ending March 31, 2018.
Apple reported revenue of $68.6 billion for the quarter.
Analysts expected revenue of about $61.4b.
Analysts polled by Bloomberg expect the company to report $61 billion in revenue, a decrease from $61bn last year.