Apple market cap seen topping $1T within 18 months

The shares of Apple (AAPL) are rising after research firm RBC Capital predicted that the tech giant's market cap could exceed $1T over the next 12-18 months The stock's current market cap is about $800B. POSITIVE REVENUE CATALYSTS: The company's revenue will increase about 5%-9% through fiscal 2019, driven primarily by higher prices spurred by the launch of the premium iPhone 8 device, wrote RBC Capital analyst Amit Daryanani. Additionally, the company's revenue from services will increase in the high teen percentage levels, predicted the analyst. OTHER CATALYSTS: Apple's gross margins will expand slightly as its services revenue increases, while its operating margins can rise about one percentage point, driven by cost cutting, wrote Daryanani. Meanwhile, continued share buybacks will help enable its EPS to increase by low teen percentage levels. Apple's earnings could exceed $12 or more per share in fiscal 2019, the analyst predicted. VALUATION: Once Apple's EPS exceeds $12, the stock should reach $192-$195, raising its market cap above $1T, according to Daryanani. The analyst raised his 12 month price target on the stock to $168 from $157. PRICE ACTION: In morning trading, Apple rose to $154.58 per share. This is just below it recently set 52-week high of $156.65.