Leading analyst predicts Apple market cap to top $US1 trillion next year

Apple could reach a market capitalisation of over $US1 trillion and record the highest ever net income of any publicly traded company in history, according to a leading analyst.

According to BGR, Topeka Capital Markets analyst Brian White made the bold prediction in a note to clients, setting a target price of $US1,111 per share for the Mac, iPhone and iPad maker.

“In [calendar year 2012], we believe Apple is poised to generate the highest annual net income of any publicly traded company ever,” White said.

White cited the possible September release of an iPhone 5 smartphone and a smaller version of the iPad as key factors in his prediction.