Apple will soon become the world’s first trillion dollar company, according to an analyst. Upcoming Apple Watch, growth in China and electric car rumors are being cited as reasons for the company’s anticipated surge, Wired reported.

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Cantor Fitzgerald analyst Brian J White, in a note to clients, said Apple shares would be worth $180 (£120) by March 2016, giving it a market cap of $1.05tn (£701bn). Currently the shares are trading at around $127, valuing Apple at $744bn.

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White estimated first year sales of the Apple Watch could top 20.6 million, and also estimates a $549bn (£367bn) long-term “opportunity” in the US car market.

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On average, the market predicts that Apple’s share price will reach around $140 in the next 12 months. In April last year, one share was worth $73, however the value has been on the rise ever since.

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Such a valuation would make Apple worth more than twice as much as Google, which has a current market cap of $365bn (£244bn) and is the third most valuable company in the US , Wired noted. – News Eeveryday