According to the managing partner of Formula Capital James Altucher, Apple may become the first trillion dollar company in history; in fact, it might already be a $2 - $3 trillion company. Demand for Apple products - particularly the iPhone and iPad have consistently increased over the years. We can safely say that with the next iterations, as in iPhone 5 and iPad 3, the demand is only going to skyrocket.
Even in the absence of Jobs, COO Tim Cook is doing a good job at handling the day to day operations and taking strategic decisions for the company. The company is in safe hands even without its founder. However, before Apple officially reaches the landmark of $1 trillion, it will have to surpass Exxon Mobil, currently the most valuable company on the planet.