WALL STREET eyes more gains from Apple's $1 trillion stock. So, shares in Apple Inc edged higher on Friday but stayed close to the $1 trillion valuation milestone the iPhone maker reached a day earlier, even as Wall Street predicted more gain.

After becoming the first $1 trillion publicly-listed US company on Thursday, Apple has traded up  0.1 pct at $207. 57 after falling as low as $205,48 and high as $207.0425 price that marked the record market cap.

Daniel Morgan, portfolio manager at Synovus Trust in Atlanta, said Apple's lukewarm Friday was a temporary pause for the stock rather than a sign it could lose ground.

''It's like a horse that crosses the finish the line and says I'm totally wiped out,'' said Morgan whose firm holds more than  200,000  shares in Apple.

''There was a strong earnings report on Tuesday. All the enthusiasm around $1 trillion  market capitalization, both those things have just exhausted  the current trading in Apple. And  it's Friday. The whole week was engulfed by Apple,'' he said.

Apple still looks relatively cheap and even with a trillion dollar valuation. Its shares trade at less than  16  times earning estimates for the last 12 months, according to Morgan, who said he would be comfortable with a multiple of  18  or  19  for the stock.

''That's a reasonable level so I don't feel there's any risk that people will say its trading at a  $1 trillion let's put the brakes on this........

If it was Amazon or Netflix  that were hitting a  trillion, then we would have that conversation,''  he said. [Agencies].


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