Apple Set for Unprecedented Growth, Analyst Predicts Stellar Rise Amid Market Turbulence
Portfolio Pulse from Anusuya Lahiri
Wedbush analyst Daniel Ives maintained an Outperform rating on Apple Inc (AAPL) with a price target of $250, predicting Apple to be the first $4 trillion market cap company by end of 2024. Ives highlighted strong iPhone 15 demand in the US and China, a robust holiday season, and a steady Services revenue growth. He dismissed concerns about iPhone bans in China and noted Apple's production shift from China to India. Ives projected Q1 revenue and EPS of $117.96 billion and $2.10, respectively, and sees the Services business alone worth $1.5 to $1.6 trillion.
December 18, 2023 | 6:18 pm
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Wedbush analyst Daniel Ives predicts Apple's market cap to reach $4 trillion by 2024, with strong iPhone 15 demand and Services growth. Maintains Outperform rating and $250 price target.
The positive outlook from a reputable analyst, including a high price target and expectations of strong iPhone 15 demand and Services growth, is likely to instill confidence in investors and could lead to a short-term increase in AAPL's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100