Apple to be the first trillion-dollar company by 2014, expects analyst

Apple is on its way to becoming the world’s first company to be worth over a trillion dollars, expects analyst Gene Munster from Piper Jaffray. The firm sees Apple shares reaching the $1,000 mark in the quite near future – by 2014 to be specific.

Munster believes the huge success will be driven by the strong iPhone sales. According to him, at least 70% of all people who owned an iPhone for two years will choose to renew their iPhone ownership.