Apple hits an all-time high and is seemingly in striking distance of being a $1 trillion company

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Apple had a semi-blowout quarter — though, really, the story is about what’s happening in the next quarter — sending the stock to an all-time high.

The big jump means Apple is now a company worth more than $800 billion. It seemed not too long ago that Google might have a fair shot at being a bigger company than Apple when it comes to its market cap, but now Apple is on a steady march upwards. And that continued march means the company may be a $1 trillion company before too long.

Apple’s report, where it signaled a big fourth quarter with its guidance, sent shares up more than 5% in extended trading. On the year, Apple shares are steadily climbing. Shares had risen nearly 30% this year prior to this earnings release. This crescendo seems to be building up to the moment when Apple breaks ground as a $1 trillion company as the next quarter will more or less make or break the company, deciding whether or not it continues to be a huge growth story.

Apple is expecting to unveil a radically new iPhone that will look to unlock as much user demand as the release of the iPhone 6 when it increased the size of its phones. In the bull case for Apple, it may unlock even more. There are a lot of positive signals across Apple’s portfolio of products, like the iPad growing year-over-year or strong growth in its services. But the iPhone is, and for the foreseeable future will be, Apple’s biggest growth driver — and all eyes are on the fourth quarter this year.

Today’s big performance is building a lot of good will for the company as anticipation grows for the next quarter and the first look at the next iPhone. Apple has had to contend with a lot of leaks of details of the next iPhone. That has seemingly tempered demand for its existing phones, which means its core growth engine is stalling. If Apple can deliver — and that wouldn’t be out of the realm of possibility — we may end up seeing the company somehow drive past the $1 trillion mark in the next year.

To be sure, $1 trillion is probably ways away. Apple’s shares are up 30% on the year, but it’ll still require a significant climb if the company is going to cross that semi-vanity mark. But if Apple can deliver — and that wouldn’t be out of the realm of possibility — we may end up seeing the company find itself adding that extra zero to its market cap.

Featured Image: Stephen Lam/Getty Images