Apple Stock Nears $3-Trillion Market Cap: Analyst Says The Street Underestimated Its Growth
Portfolio Pulse from Chris Katje
Apple (NASDAQ:AAPL) is nearing a market capitalization of $3 trillion, according to Wedbush analyst Daniel Ives. Despite previous challenges related to supply chain and macroeconomic factors, Apple has managed to navigate these issues and is on the brink of joining the $3 trillion market cap club. Ives believes that the Street has underestimated Apple's growth potential, particularly with the upcoming iPhone 14 and iPhone 15. Apple's Services business is nearing $100 billion annually, and the launch of the Vision Pro headset and its associated app store could further boost the company's growth. Ives projects Apple hitting a market capitalization of $3.5 trillion and a bull case of a $4-trillion valuation by fiscal year 2025.
June 28, 2023 | 2:17 pm
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Apple is nearing a $3 trillion market cap, with significant growth potential in the next 12-18 months, according to Wedbush analyst Daniel Ives. The company's Services business is nearing $100 billion annually, and the launch of the Vision Pro headset and its associated app store could further boost the company's growth.
The news is highly relevant to Apple as it directly pertains to the company's market capitalization and growth potential. The positive outlook from the analyst, along with the company's upcoming product launches and growing Services business, could potentially drive the stock price up in the short term.
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IMPORTANCE 90
RELEVANCE 100