The Dow Jones Industrial Average hit 22,000 on Aug. 2 for the first time, receiving a boost from strong earnings posted by Apple Inc.
Apple shares surged nearly 6 percent in the premarket on Aug. 2 after the company’s quarterly results beat expectations.
“We continue to believe Apple remains among the most underappreciated stocks in the world,” Brian White, an analyst at Drexel Hamilton, wrote in a research report.
He raised his estimates and revised his price target from $202 to $208 per share.
Should shares of Apple climb to White's price target, the company will be worth over $1 trillion.
