Apple To Hit $4 Trillion Market Cap In 2024? Why Analyst Calls Now The 'Golden Opportunity' To Own The Stock
Portfolio Pulse from Chris Katje
Wedbush analyst Daniel Ives predicts Apple Inc (AAPL) will reach a $4 trillion market cap by the end of 2024, maintaining an Outperform rating with a $250 price target. Ives highlights strong iPhone demand, potential for an AI app store, and robust services revenue growth as key drivers. Despite concerns over China, Ives sees a strong holiday season and iPhone 15 growth exceeding estimates, with 100 million iPhones in China poised for upgrades. Apple shares are currently trading at $195.84, up over 57% year-to-date.
December 20, 2023 | 8:13 pm
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Wedbush analyst Daniel Ives maintains an Outperform rating on Apple with a $250 price target, citing strong iPhone demand, potential new AI app store, and services revenue growth as catalysts for reaching a $4 trillion market cap by 2024.
The positive outlook from a reputable analyst like Daniel Ives, who has a strong track record, can influence investor sentiment and potentially drive the stock price up in the short term. His emphasis on strong iPhone demand, especially in China, and the introduction of new services like an AI app store, are seen as significant growth drivers that could support Apple's stock performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100